OPEC, This Is Not The Time To Blink!

OPEC should stay its course towards lower oil inventories and not blink in the face of any supply angst.

From present level with OECD oil inventories close to five years average, OPEC should continue to drain these inventories by at least another 200-300 million barrels. If OPEC at this point ones again starts opening up their oil exports they stand the risk of pushing the market back into contango already by Q3 this year. In doing so they are, totally unnecessary, handing away oil revenue to independent (carry) traders at the expense of the oil producing nations themselves.

Hans Berglund, CIO

ProxyPetroleum Energy

This website uses cookiesfor statistics and user experience.

This website uses cookies to improve your user experience, to provide a basis for improvement and further development of the website and to be able to direct more relevant offers to you.

Feel free to read ours privacy policy. If you agree to our use, choose Accept all. If you want to change your choice afterwards, you will find that option at the bottom of the page.