Oil looks to Opec for direction: Hansen

Head of Commodity Strategy at Saxo Bank Ole Hansen sees oil set to rise. He says that an Opec production target would have a bullish impact on the market. However Hansen says that the most important factor for the price of oil is the Weekly Petroleum Status Report. A 2.5 million-barrel drop is expected and if that happens the market will react positively and drive the price of oil up says Hansen.

from Ole Hansen - Authored content https://www.tradingfloor.com/posts/oil-set-to-rise-hansen-7711495?utm_medium=tf4-feed&utm_source=extract