Goldies head of commodities research speaks to Bloomberg
– Freeze deal between OPEC and Russia will not do anything to change market fundamentals
– OPEC has no reason to reverse strategy now as rival supply is retreating
Pretty much spot on for me. Given how most of the big players aren’t going to sign up to the deal until they’re at higher pumping levels, it’s hard to see anything substantial coming from this meeting. At best we’ll get a lot of promises but little substance.
Any Doha oil deal will not change the market fundamentals says Goldman Sachs
