Spring is in the air and so too is the prospect of a sharp decline in the global oil inventory excess according to HSBC’s Natural Resources & Energy research team. In a research note published at the beginning this month, the team headed by Gordon Gray Global Head of Oil & Gas Equity Research proclaims that they expect decisive oil inventory falls in the coming weeks as OPEC supply cuts are more fully reflected in data ... and that is bearish for Global Oil Stocks.
Overall, the team sees global oil stocks falling by 0.6 million barrels this year, but the fall could be more than 1 million barrels if OPEC extends its cuts through the second half. This...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full ArticleAlready a member? Log in here
