Crude prices jump on output freeze hopes, positive sentiment - OPEC

摘要

LONDON (ICIS)--A slight improvement in global economic sentiment and hopes producer countries will agree on an output freeze on 17 April are supporting strong gains in crude prices, giving speculators room to amass "a near-record number of bullish bets" on rising values, the Organization of Petroleum Exporting Countries (OPEC) said on Wednesday. The positive economic sentiment detailed in OPEC’s latest Monthly Oil Market Report, however, did not extend to Latin America, where the largest economy Brazil will continue to suffer a recession, which caused OPEC to revise slightly down its crude demand growth forecast for 2016.