X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • 3 minutes Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Scientists Warn That Filling The Sahara With Solar Panels Is A Bad Idea
  • 11 minutes United States LNG Exports Reach Third Place
  • 15 minutes Joe Biden's Presidency
  • 9 hours America Makes Plans to Produce Needed Rare Earth Minerals Domestically
  • 2 hours IS SAUDI ARABIA SENDING A MESSAGE TO BIDEN
  • 9 hours U.S. Presidential Elections Status - Electoral Votes
  • 2 days Texas forced to have rolling black outs, primarily because of large declines in output from fossil fuel power plants
  • 2 days Former BP Exec "Biden not in war against oil" . . Really ?
  • 2 days Texas Supply Chain Massacre
  • 2 days Here we go - again: plug-in hybrids cost motorists more than what they were told
  • 6 hours Top Conservative Lawyer Says Trump Can Stand Trial
  • 6 hours “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 2 days An exciting development in EV Aviation: Volocopter
Editorial Dept

Editorial Dept

More Info

Premium Content

The Investment Bank That's Still Bullish On Oil

1. Copper prices rebound

- Copper prices rebounded this week, on news that there was some progress on the coronavirus.

- “Although we regarded the price slide beforehand as exaggerated, the current optimism has come somewhat suddenly,” Commerzbank said in a note on Wednesday.

- The crisis is far from over. “For as long as the virus continues to spread and the number of those infected and the number of deaths continue to rise rapidly, we see further potential for prices to fall again,” the bank added.

- The backup at the ports is causing supply chain disruptions for all types of commodities. “This is also affecting China’s largest copper smelters: the second-largest announced [Wednesday] that it will be reducing its refined copper production by 10-30% because raw material supplies are constrained, and because of insufficient personnel,” Commerzbank said.

2. Libya outage helps “Call on OPEC”

- OPEC production declined to 28.3 mb/d in January. The two red-dashed lines in the chart above from Standard Chartered show two scenarios for the rest of the year. In one scenario, Libyan oil production stays disrupted, producing at about 0.1 mb/d through 2020. In the other, production rebounds to 1.1 mb/d.

- “In the worst case (with 2020 demand growth reduced by 0.7mb/d) and with Libyan output restored quickly, the H1 stock build is 1.776 mb/d, which appears too large for…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News