Crudeoil MCX || 16 Feb
EA's Optimistic View:
IEA forecasts global oil supply to outpace demand, with non-OPEC countries leading the rise.
OPEC's Limited Options:
OPEC faces challenges as demand for its oil is predicted to decline, limiting room to lift output without oversupply risks.
Dubious Non-OPEC+ Increase:
Doubts arise over IEA's projection of a 1.6 million barrels per day surge in non-OPEC+ oil production, especially regarding U.S. output.
OPEC's Response:
Some OPEC nations commit to deeper cuts, challenging the IEA's rosy picture, and suggesting the market may not be as comfortable as depicted.
IEA forecasts global oil supply to outpace demand, with non-OPEC countries leading the rise.
OPEC's Limited Options:
OPEC faces challenges as demand for its oil is predicted to decline, limiting room to lift output without oversupply risks.
Dubious Non-OPEC+ Increase:
Doubts arise over IEA's projection of a 1.6 million barrels per day surge in non-OPEC+ oil production, especially regarding U.S. output.
OPEC's Response:
Some OPEC nations commit to deeper cuts, challenging the IEA's rosy picture, and suggesting the market may not be as comfortable as depicted.
Note
Upside target done, --- +71 Points
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