Monday, November 25, 2024
OPEC Cuts Will Bring Crude Oil into Balance in 2017: UBS

OPEC Cuts Will Bring Crude Oil into Balance in 2017: UBS

Uncertainties: U.S. Production, OPEC Compliance UBS has revised its global supply and demand balances and forecasts to reflect recent OPEC and non-OPEC output agreements and signs of accelerating investment in the U.S. onshore from the 3Q16 U.S. reporting season. The bank expects modest inventory draws starting in mid-2017 accelerating into 2018 and 2019. The tipping point into under supply is