Though the initial post-Doha knee-jerk reaction of pushing oil prices lower was anticipated, analysts at RBC expect oil prices to find support in the mid-$30/bbl range, considering an otherwise improving fundamental backdrop. Helima Croft and team said in their April 18 research note titled “OPEC Watch List: Post Doha – Go Your Own Way” that with the Doha meeting ending in a bust, the pain is expected to deepen for the vast majority of sovereign producers. Oil prices should find support near mid-$30/bbl range Croft and colleagues note the failure of the OPEC/non-OPEC meeting to result in a collective freeze has shown that sovereign…
Post-Doha, Oil Prices Could Find Support In Mid-$30/bbl Range: RBC
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports