According to analysts at ABN AMRO, trade war worries could trigger a correction in crude oil prices during the third quarter. On the long run, they warn about the possibility of higher prices. Key Quotes: “OPEC will raise oil production by nominal 1mb/d. In practice, this means that net production will increase by roughly 600 kb/d to meet the rise in demand and prevent supply shortages. Oil prices hardly reacted as the market focus shifted from possible supply shortages towards the decline in reserve capacity. This shift in focus can be partly explained by the still excessive levels of speculative long positions.” “For the near term, oil prices will be driven by opposing factors. The rise in production/exports by Saudi-Arabia and UAE is balanced by lower output in Venezuela, Iran and Libya. Worries regarding a possible trade war may trigger a correction lower towards USD 70/bbl for Brent in Q3.” “Longer run, supply issues will become even more critical. Unless demand start to weaken, higher prices could be seen in the course of 2019.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Consumer Sentiment slides affected by trade worries – Wells Fargo FX Street 5 years According to analysts at ABN AMRO, trade war worries could trigger a correction in crude oil prices during the third quarter. On the long run, they warn about the possibility of higher prices. Key Quotes: "OPEC will raise oil production by nominal 1mb/d. In practice, this means that net production will increase by roughly 600 kb/d to meet the rise in demand and prevent supply shortages. Oil prices hardly reacted as the market focus shifted from possible supply shortages towards the decline in reserve capacity. This shift in focus can be partly explained by the still excessive levels… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
