Summer oil rally possible, but structural bearishness and concerns over surplus and negative drivers

From Investing.com: 2024-06-15 03:03:03

Macquarie analysts caution against being swayed by a possible summer rally in the oil market, expressing structural bearishness. Concerns include surplus worries in the latter half of 2024 and 2025, alongside negative drivers like OPEC+ compliance issues and non-OPEC production growth. The report also dampens excitement over new production sources and China’s lessening sensitivity to economic growth in oil demand.



Read more at Investing.com: Summer oil rally possible but market may look past it: Macquarie By Investing.com