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UBS sees oil climbing to US$70-US$75
SINGAPORE: UBS sees oil climbing to US$70 to US$75 on better-than-expected demand growth seen at 1.2 million barrels per day, or slightly better this year, compared to consensus of one million to 1.1 million barrels a day, Wayne Gordon, executive director for commodities and foreign exchange says in interview in Singapore.
* Oil will increase to US$70-US$75 in next three months.
* Price could surge to US$90 bbl if situation in the Middle East deteriorates into military conflict
* Brent oil trading near $64/bbl in London
* UBS estimates Iran’s 2Q oil exports dropped to 500k b/d
* US-China trade concerns and a reduction by the IMF to its global growth outlook weigh on prices; interest rate cuts by the Fed will boost oil.
* Bank’s preferred commodities include oil, gold, nickel,aluminium, copper.
- Bloomberg
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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oil price up benefit KNM
KNM ada 10 oil fields around the world.
2019-07-24 17:15