Via the most recent Bloomberg survey of oil analysts, 20 of 25 expect that Saudi Arabia its current current 1 million-barrel oil output cutback for at least one more month.
- Bloomberg add that several delegates from the Organization of Petroleum Exporting Countries and its allies privately predicted the same outcome.
- "I don't think they're ready to ease up yet — there's lots of macroeconomic uncertainty and especially China angst out there still,"
- "If they ease up too early, speculative shorts could flock back."
4 of the 25 predicted a Riyadh "taper" of the current 1 mn-barrel cutback to a smaller volume
- 1 said the Saudi's would endthe cut altogether
- Zero of the 25 expect an expansion of the cut beyond 1 mn bbl/day
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Earlier oil news:
