Thina Saltvedt Nordea sees the panic spread in the oil market and forecasts prices in the 40s. Torbjorn Kjus DNB shutting down its oil estimates once again, writes DN.
– Now it’s so negative mood in the market that it’s really hard to see the bottom, says Saltvedt to the newspaper, barely two weeks after she predicted major Opec cuts and an oil price of $ 90 a barrel.
– There is nothing holding back. Now the 65. It can go in the 50s and 40s for the part before it stops, says Saltvedt.
– There is panic throughout the line and it makes it becomes a mass exodus, simply, she adds to DN.
She believes that part of the Opec countries struggling with the current price level, and also see that part of the American manufacturers will exit the market . Thus there is a tug of war over who goes first. Saltvedt gets support from DNB Torbjorn Kjus, which adjusts down next year’s estimate to $ 70 a barrel, and the 2016 estimate to $ 80 a barrel.
– The major market have now understood that it is up to the price to regulate supply and demand without Opec intervene, he says to DN.
No comments:
Post a Comment