Livia Gallarati, Senior Oil Markets Analyst, Energy Aspects, says “a major part of the market was expecting OPEC plus to bring forward their production cuts. We had been expecting Saudi Arabia to extend its production cuts regardless. So to be honest, it was not a surprise for many in the market, but just more of a confirmation of Saudi Arabia’s commitment to keep the market balanced. We are not expecting them to backtrack on their commitments.”
What is your perspective on oil prices? Constant gains are coming in and prices hovering around $90 per barrel but seeing the commentary coming in from Opec and Russia, how much of a spike do you expect from here on in oil prices?
