One bullish and two bearish key developments this week in oil markets

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Content

  • Market view oil: Still support at USD 70, but uncertainty is high as OPEC production policy might be changing
    • Three key developments this week
      • Saudi Arabia flirting with a volume strategy
      • Libyan oil is about to return to the market
      • China takes out the small bazooka
  • Market Drivers next week: Labour market report and OPEC+ meeting
  • Hedging views (consumer side):
    • Oil/oil products: Add to consumer hedges when Brent trade in the USD 70-74 range
    • EUA: Buy EUAs when DEC-24 below EUR 64 MT
    • Gas: Buy when TTF front-month below EUR 34 MWH

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Arne Lohmann Rasmussen
Chief Analyst, Head of Research at Global Risk Management

Phone +45 2146 2951
Arra@global-riskmanagement.com

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