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Oil Prices Ease as Demand Concerns Outweigh Supply Cuts
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Overview
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Oil prices ease as concerns over weaker demand outweigh the prospect of deeper supply cuts by OPEC and its allies. OPEC+ is expected to extend or even deepen oil supply cuts at a meeting on Nov. 26. Goldman Sachs suggests that deeper cuts should not be ruled out due to lower speculative positioning and higher inventories.
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How might the possibility of a recession in the US affect oil prices?
How might weaker demand impact the overall oil market?
What are the potential consequences of deeper supply cuts by OPEC and its allies?
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