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According to analysts at TD Securities, the energy market is looking for the OPEC group of producers to strengthen their compliance, which they hope will work alongside a truce in the US-China trade war to help balance the market.

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“This week, however, the complex will have to contend with elevated prices without the aggressive CTA buying flow observed last week. With the algorithmic buying program in the rearview, we would not be surprised to see crude oil prices ease off recent highs in the coming week. Indeed, large surpluses in early 2020 still linger on the horizon, especially as OPEC+ will likely hesitate to deepen output cuts when they meet in December, which suggests this latest rally will likely run out of steam.”