Saudi Arabia calls off pump-and-dump strategy after agreeing oil cut deal; the deal is first OPEC cut in production since 2008; impact unlikely to be felt until January 2017 at the earliest; forecast on short-to-mid-term for oil still to be capped in low $50s/barrel.
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Ole Sloth Hansen
Head of Commodity Strategy, Saxo Bank
Prior to the meeting there has been a feeling that this meeting was going to be irrelevant. No decision was expected, as no decision was required. But...
What makes commodities a popular investment?
We are seeing some renewed weakness hitting the oil markets and it really raises the question have we come too fast too soon?