Credit Suisse takes on the oil exporter trade
"Rationale: Oil prices juggle two headlines this morning; the near-term focus seems to be more on Canadian wildfires whereas the medium-term development is the Saudi oil minister change (which most oil analysts including our own see supporting the idea that Saudi production is unlikely to be cut in June). In FX we expect wildfires to be more negative for CAD compared to other oil currencies such as NOK.
