Business
Oil prices have slumped by about 60% since the peak in January. While OPEC+ has tried to push up prices by cutting production, the sharp slump in demand because of COVID-19 appears to be outweighing the reduction is supply. In this week’s episode we are joined by Gaurav Sharma, contributor to Forbes and ‘oiloholic’, to talk about whether the production cuts really make a difference. Sharma says OPEC+ is facing a problem in that it has ‘fired its bazooka’, but the production cut won’t address the gap if demand is not there. Sharma thinks WTI oil could fall to ‘mid to low teens’ with a bearish month ahead. Any opinions, news, research, analysis or other information does not constitute investment advice.