(Reuters) - Some analysts had predicted OPEC would begin easing output restrictions to take advantage of prices hovering around $70, near a nine-month high. The determination of OPEC's biggest producer to maintain discipline undermined those forecasts.
"After helping provide a floor to prices in the early part of this year, OPEC's cuts enhance a rally into the second half," BNP Paribas analyst Eoin O'Callaghan said in a research note.
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"After helping provide a floor to prices in the early part of this year, OPEC's cuts enhance a rally into the second half," BNP Paribas analyst Eoin O'Callaghan said in a research note.
Read more at Reuters.com Hot Stocks News
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