OPEC sights set for now on $50-60 per barrel oil – PIRA’s Ross

OPEC sights set for now on $50-60 per barrel oil – PIRA’s Ross

OPEC producers have their sights set on a sustained oil price of $50-$60 per barrel, a modest ambition for the first cut in supply by the oil exporting group in eight years, says one of the industry’s top forecasters.Benchmark U.S. oil prices CLc1 have risen around $4, or around nine percent, to over $48 per barrel since the Organization of the Petroleum Exporting Countries (OPEC) agreed last week to shave output Read more

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