Oil Traders Lose Faith in Geopolitical RalliesShare on LinkedIn
7 Jan 2020
Escalating tensions in the Middle East are boosting oil prices, but some investors are skeptical the rally has legs after other recent geopolitical flare-ups in the market quickly eased.
Richard Soultanian, Co-President of NUS Consulting told Sarah Toy:
"Despite the geopolitical risks looming over crude, the market is still oversupplied"
"Some members, like Iraq and Nigeria, have struggled to curb their output in the past"
"I'm very bearish about oil in 2020"
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