Crude oil's upside limited, downside risk exists
Petronas CEO warns crude oil's upside limited, downside risk exists:
"Higher crude prices have lured American shale oil producers to start pumping oil into the market as they climb above the US$45 (RM199.35) level. The additional supply is expected to cap the upside of the fuel price.
Worse still, the prices may even slip below the US$40 level again if Opec and non-Opec members decide not to continue with the production curbs when the agreement lapses by end-June."
“I have my doubts if oil will be as bullish as some people are expecting. There’s a strong production pickup in the market, especially in the US,” he pointed out
Link: www.hellenicshippingnews.com/a-crude-awakening-again/
Personal thot:
Consensous has been bullish on energy stocks but we are not. We will continue to stay out of this sector.
"Higher crude prices have lured American shale oil producers to start pumping oil into the market as they climb above the US$45 (RM199.35) level. The additional supply is expected to cap the upside of the fuel price.
Worse still, the prices may even slip below the US$40 level again if Opec and non-Opec members decide not to continue with the production curbs when the agreement lapses by end-June."
“I have my doubts if oil will be as bullish as some people are expecting. There’s a strong production pickup in the market, especially in the US,” he pointed out
Link: www.hellenicshippingnews.com/a-crude-awakening-again/
Personal thot:
Consensous has been bullish on energy stocks but we are not. We will continue to stay out of this sector.
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