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October 17, 2019 11:31
VIEWPOINT: Oil to remain at $58-61/barrel - Promsvyazbank
MOSCOW. Oct 17 (Interfax) - As expected, crude oil stocks in the U.S. have grown by 10.5 million barrels, according to Promsvyazbank analyst Yekaterina Krylova. If the U.S. Department of Energy announces a similar figure today, this would represent a high since the beginning of 2017. The bad news is softened by the discussion surrounding U.S.-China trade talks and the possibility that an agreement will be signed at the APEC summit. Against this background, oil is remaining at $58-61/barrel. All eyes will be on the Department of Energy today, Krylova wrote.
*** This article contains the opinion of investment or banking professionals obtained by Interfax. This opinion is provided for informational purposes only and is not a recommendation to buy/sell shares or to make any commercial or other decisions. Interfax does not accept any responsibility for the content of the article or any consequences resulting from its use.
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/Interfax/
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