OPEC: Risk of a further increase in Saudi output can’t be ruled out - SocGen

Kit Juckes, Research Analyst at Societe Generale, suggests that today’s big event apart from the ECB is the OPEC meeting in Vienna.

Key Quotes

“OPEC is getting its wish for higher oil prices, though not through any fault of its own. Nothing is expected today, but the tensions between Iran and Saudi Arabia are such that the risk of a further increase in Saudi output can’t be ruled out and with it, the risk of a temporary downward correction in prices. Probably a non-event, possibly another trigger for some risk aversion.”