Oil: OPEC output freeze still awaited - BBH

Sandeep Kanihama FXStreet Contributor

Research Team at BBH, suggests that the economic and monetary policy divergence may overwhelm the speculation that OPEC could agree to a freeze in output as early as next month.

Key Quotes

“One key hurdle has been the Iranian need to boost output back to pre-embargo levels. The latest reports suggest it is close, but still a little shy of its four mln barrel per day target. Also, it makes sense, assuming rational actors, that ahead of a possible freeze, output increase, so the freeze at a more advantageous level. Meanwhile, US output is still slipping and imports rising. A rising US dollar may help spur a correction to the nearly 24% rally off the early-August lows.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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