Oil market balance could begin to turn in July or August, FGE’s Fereidun Fesharaki Says

Oil market balance could begin to turn in July or August, FGE’s Fereidun Fesharaki Says

or could we be seeing the June contract going the same way .. basically yesterday and today depending on what time is on. Yesterday their prices went as low as. We expect that prices to go down 5 7 dollars. happens the markets go crazy or their .. I'm sure that the producers can turn out the top in the US .. things off if the price of oil goes down very low.. . So on a global basis you do turn down the taps if the prices. What in the US did it the way that the logistics work. The Saudi minister talked about twelve point five million. But once we get to July and August the markets return to. point three million barrels per day but they cannot set it in. the market because there's no demand thanks to Corona virus.. FGE Founder & Chairman Fereidun Fesharaki says if the OPEC+ deal holds together with high compliance, the market balance could begin to turn in July/August 2020, with prices recovering back to around $30/bbl.. "Bloomberg Markets" is focused on bringing you the most important global business and breaking markets news and information as it happens..