Oil selloffs following OPEC+ production cut plan are 'unjustified,' says portfolio manager
BNN Bloomberg
Following OPEC+’s oil production cut timetable, released earlier this week, one senior portfolio manager says reactionary market sentiment is rooted in a “misinterpretation.”
Following OPEC+’s oil production cut timetable, released earlier this week, one senior portfolio manager says reactionary market sentiment is rooted in a “misinterpretation.”
Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners, told BNN Bloomberg that selloffs in oil following the released OPEC+ plan is “completely unjustified using fundamentals.”
“I think it’s rooted in a strong misunderstanding of what came out and what OPEC+ is trying to achieve,” he told BNN Bloomberg on Thursday.
A pipeline leak in Sarnia, Ont., has been located more than a week after a sheen reportedly turned up on the St. Clair River.
U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.
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Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
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