Oil stock release: What now?

The US has finally announced that it will be releasing 50MMbbls of crude oil from its Strategic Petroleum Reserve (SPR) to help lower prices. A handful of other countries have joined the US with this initiative. While releases are clearly bearish in the short term, the big unknown is how OPEC+ will respond, says ING.

Leave a Reply

Your email address will not be published. Required fields are marked *