OPEC Secretary-General Barkindo: Demand numbers for 2020 has potential for an upside swing

Market news

13 November 2019

OPEC Secretary-General Barkindo: Demand numbers for 2020 has potential for an upside swing

Could see sharp supply fall in 2020 from U.S. shale output
Fundamentals of global economy remain strong; there is no sign of a global economic recession
Confident OPEC+ members will continue with their agreement in 2020
Some U.S. oil companies see shale output growth in 2020 only up by around 300,000-400,000 bpd; that it is not as high as OPEC optimistic estimates
Saudi authorities have reassured US that Aramco IPO won't affect kingdom's role within OPEC as the biggest producer
No one in OPEC+ wants to return to where we came from during oil prices downturn
The Aramco IPO won't affect Saudi Arabia's participation in supply adjustments to ensure oil market stability

U.S. October CPI won't change the calculus for the Fed in the near-term - TDS

Fed's Chair Powell: Baseline outlook favorable but noteworthy risks remain - prepared testimony

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