Market Is Becoming Aware that OPEC Has Set Itself a New Target Price of Around 70/B

摘要

AOGM:Despite the recent downturn,oil prices remain at historically very high levels in nominal terms,at around 70/b or more.That is much the same level as in the summers of 2006 and 2005,but without the war in Lebanon,as in 2006,and without-up to now at least-hurricanes like Katrina and Rita,as in 2005.What is the weight of the market fundamentals in the current level of prices? And what is the weight today of political and geopolitical factors,which have had a major impact on the markets in the past?