In order to avoid a price slide and a massive inventory build, OPEC+ would need to implement further voluntary production cuts, the challenge facing OPEC+ is thus likely to become even bigger next year, maintaining the pressure on the oil price. Eugen Weinberg More Quotes by Eugen Weinberg More Quotes From Eugen Weinberg The sentiment is still quite negative and depressed on oil prices, there are factors which should be supportive, but at the moment I think there is no single (piece of) news which would convince the bears that the decline is over. Eugen Weinberg energy The market is massively oversupplied, this rally doesn't have strong legs. Eugen Weinberg top-news We expect both prices to rise next year, a short-term slide can't be excluded. Eugen Weinberg energy We are confident that the incipient decline of production in the United States will herald a long-term and fundamental bottoming out process on the oil market. Eugen Weinberg business We are also hopeful that OPEC will agree on a stricter quota discipline at its December meeting. Eugen Weinberg energy The market is expecting the tightening in the second half of the year, we argue this dynamic is hardly fundamentally sound. Eugen Weinberg energy We are in an oversupplied market, and this oversupply is unlikely to disappear any time soon. Eugen Weinberg energy We think the market is already reading too much into this, the price action is premature. Eugen Weinberg energy I do believe demand is in a much better shape than we feared before and already expected right now, all kinds of signs of demand being above expectation are already in place. Especially in the U.S., where we had a real boom in registrations of pickups and SUVs and everything else. Eugen Weinberg energy
