Wednesday, December 11, 2019

Oil Prices’ Hard Landing Initializing Descent

The recent OPEC+ meeting resulted in nothing more than creative production accounting. The estimated new oil production sources coming on-line and Venezuela’s phoenix-like production rise interestingly neatly matches the OPEC+ quota agreement. However even if the additional production estimates fall short, the combination of weakening compliance by OPEC+ members and flat global demand will add severe downward pressure on oil prices as early as 2020.

For additional particulars please refer to the 11 December 2019 article published on Seeking Alpha  Oil Prices’ Hard Landing Initializing Descent.