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Crude oil prices to hold firm at US$40 a barrel on higher Opec+ production cut: Maybank KE

Broker's Calls

Crude oil prices to hold firm at US$40 a barrel on higher Opec+ production cut: Maybank KE

Jeffrey Tan Published on Thu, Jul 09, 2020 / 10:55 AM GMT+8

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SINGAPORE (July 9): A deeper cut in production by members and non-members of the Organization of the Petroleum Exporting Countries (Opec+) is expected to support crude oil prices at US$40 a barrel.

Citing Platts’ figures, Maybank Kim Eng notes that Opec+ has delivered a 106% cut compliance in June, up from 85% in May.

Opec’s core members were instrumental in making additional voluntary cuts, it says.

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Crude oil prices to hold firm at US$40 a barrel on higher Opec+ production cut: Maybank KE

Broker's Calls

Crude oil prices to hold firm at US$40 a barrel on higher Opec+ production cut: Maybank KE

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Crude oil prices to hold firm at US$40 a barrel on higher Opec+ production cut: Maybank KE

Broker's Calls

Crude oil prices to hold firm at US$40 a barrel on higher Opec+ production cut: Maybank KE

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