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Saudi oil minister warns market speculators to 'watch out' ahead of OPEC+ meeting
- Saudi Energy Minister Prince Abdulaziz bin Salman warns oil speculators to exercise caution to avoid being caught out by OPEC+ decisions as in April.
- CFTC data shows an increase in short positions in crude oil futures, which could result in a large short squeeze if there is another surprise tightening in OPEC+ oil output in June.
- The IEA forecasts that a deep supply squeeze is on the horizon, while a UBS note predicts the market will be undersupplied by 1.
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22 Articles
22 Articles
Oil gains 2% after Saudi warns short-sellers: 'watch out'
Oil prices rose more than a dollar a barrel on Tuesday on forecasts for a tighter gasoline market and a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ output cuts.
·United Kingdom
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Total News Sources22
Leaning Left3Leaning Right7Center6Last UpdatedBias Distribution44% Right
Bias Distribution
- 44% of the sources lean Right
44% Right
L 19%
C 37%
R 44%
Factuality
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