Standard Chartered has been plotting the path of the oil price rally in what it terms as an 'incorrect market reaction to the 2 June OPEC meeting', telling investors in a note on Wednesday that the rally has 'significantly further to run'.
Standard Chartered has been plotting the path of the oil price rally in what it terms as an “incorrect market reaction to the 2 June OPEC meeting”, telling investors in a note on Wednesday that the rally has “significantly further to run”.
Standard Chartered is advising investors that the market has not yet priced in a continuation of inventory draws in the fourth-quarter of this year and the first quarter of next year, and sees the potential for $90 oil in early Q3. Also on Wednesday, Ole Hansen, head of commodity strategy for Saxo, said analysts noted that since the Q4 2022, the U.S.
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