Oil: Prices likely to rebound this year – Danske Bank

Sandeep Kanihama FXStreet Contributor

Danske Bank analysts point out that oil is generally trading on the weak side, setting up for the biggest weekly decline since May.

Key Quotes

“Weak global demand concerns seem to be outweighing the recent proposal from the OPEC+ pact to extend supply curbs into 2020 and worries that a renewed US confrontation with Iran may threaten supplies.”

“We continue to believe that oil prices will rebound over the course of this year following the OPEC+ deal, supply concerns in Iran, Libya and Venezuela and a modest recovery in the global economy towards the end of the year.”

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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