Oil Price War Lite
OPEC+ recently announced another outsized oil production hike, tripling its planned June output increase to 411k b/d for the second consecutive month. Our take on why KSA is boosting crude output at a time of heightened downside demand risks is that it is pursuing an oil price war lite. President Trump is not only blessing this strategy but also depending on it.
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BCA Research | Commodity & Energy Strategy
Top-down global-macro framework with bottom-up fundamental analysis of major commodities.
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