Scott Barlow's Noteworthy: The bear case for oil prices is noteworthy
A market strategist also comments on copper demand, Tesla and security-related spending
Source: theglobeandmail.com
Stay updated with breaking news from Ed Morse. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
A market strategist also comments on copper demand, Tesla and security-related spending
Saudi Arabia's plan to slash oil production by around 10 percent may hit its finances hard.
Crude oil closed higher but surrendered nearly all early gains, as Saudi Arabia's go-it-alone production cuts only underscored the broader weakness in the oil market and in the cartel.
One prediction sees oil at over $100, but another warns of a plunge to below $70.
The world’s top oil exporter Saudi Arabia announced further voluntary output cuts which will be implemented from July.