There is a possibility of crude oil falling to the $60 range, however, excessive bearishness is undesirable - Trafigura
September 9, 2024 20:37 JST (excerpt)
At the Asia-Pacific Petroleum Conference (APPEC) which began on the 9th in Singapore, the major resource trading company Trafigura expressed a gloomy outlook on the crude oil market. Concerns over China's demand and oversupply are the background.
APPEC is the largest gathering of oil-related company executives, traders, and investors in Asia, and this year it started with an extremely bearish sentiment. Ben Luckock, co-head of Trafigura's oil trading division, said at the conference, "Brent crude will probably enter the $60 range soon."
At the Asia-Pacific Petroleum Conference (APPEC) which began on the 9th in Singapore, the major resource trading company Trafigura expressed a gloomy outlook on the crude oil market. Concerns over China's demand and oversupply are the background.
APPEC is the largest gathering of oil-related company executives, traders, and investors in Asia, and this year it started with an extremely bearish sentiment. Ben Luckock, co-head of Trafigura's oil trading division, said at the conference, "Brent crude will probably enter the $60 range soon."
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
