That appears to be the expectation, even after the rifts that now we have seen amongst OPEC+ members coming into at present’s assembly. Apart from that, ANZ is forecasting oil to commerce within the vary of $85 to $90 within the first half of subsequent yr.
As for his or her different commodities outlook, they count on gold to commerce above $2,000 subsequent yr (which already has occurred) and the iron ore market to be in deficit of round 40MT after decline in world provide this yr.
This text was written by Justin Low at www.forexlive.com.
