OctaFX | OctaFX Forex Broker
Open trading account

Oil: Demand projections continue to move lower – TDS

Oil plunged to its lowest in some 18 years while President Trump will continue his dialog with Russia's Putin about the oil market, strategists at TD Securities report.

Key quotes

“Demand projections continue to move lower, while Saudi Arabia shows no signs of reconsidering its supply increase in the next few days.”

“We suspect that for any deal to take place, Russia will likely ask for removal of all sanctions on Russian oil interests, and demand that the US must also cut production.”

“We will get a supply decline, one way or another. The oft-cited proposal, between the US, Russia and OPEC could see 4-5 million b/d worth of cuts, representing a 10% cut by these major producers. But, it remains unlikely that even a cut of that magnitude would do much in the short term, when demand is set to drop 15-20 million b/d in the next month or so.”


Crude Oil Futures: Deeper retracement on the cards

Open interest in Crude Oil futures increased by around 71.4K contracts on Monday, the largest single-day build so far this year according to advanced
Read more Previous

Eurozone: Immediate drag on inflation ABN Amro

Headline inflation will turn negative while core inflation is set to gradually decline, according to economists at ABN Amro. Key quotes “The macro sti
Read more Next
Start livechat