In energy markets, the left tail is shrinking, as strategists at TD Securities note.
Key quotes
“OPEC+ output curtailment is set to officially begin in just a few days, while market forces, such as persistently low prices and storage constraints, are at work to ultimately drive non-OPEC supply significantly lower.”
“While we anticipate a long road to recovery for crude prices, the left tail may have narrowed sufficiently for market participants to begin eyeing opportunities.”
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