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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (24871)	1/23/2017 8:27:50 AM
From: Goose94	Read Replies (1) \| Respond to of 203382

Crude oil price to fall below $50 if OPEC fails to deliver. A new CNBC survey of energy forecasters finds that experts believe that oil prices will fall from today’s levels if the OPEC cuts do not materialize. Many analysts have pegged the expected compliance rate of OPEC members at about 80 percent, which translates to roughly 1 million barrels of oil per day taken off the market. Others argue that the oil market has become unduly optimistic. "The recent rally in oil prices above $50 rests more on faith than fact: no hard data on compliance around pledged supply cuts by OPEC and non-OPEC countries will emerge until February" Harry Tchilinguirian, global head of commodity markets strategy at BNP Paribas, told CNBC. He forecasts Brent to average just $47 per barrel in the first quarter. And he isn’t the only one. "I'm convinced that prices will fall through the year as the market recognizes that OPEC is not complying, Russia does not comply at all, U.S. shale recovers massively thanks to some steps of the Trump administration," Eugen Weinberg, head of commodities research at Commerzbank, said.