The excess supply of oil may end up and if you follow information on oil and gas in the Offshore Panorama portal knows that’s good news for the market. According to experts, after the agreement of the Organization of petroleum exporting countries (Opec) to reduce the production of “black gold”, oil prices in the short term, were more bullish than bearish.
The forecasts of the Bank of America Merrill Lynch and Goldman Sachs (USA) show that, between the consequences of the OPEC agreement, is the market. Means that the current oil prices can begin to overcome the futures prices, a situation that would make the oil more interesting in the eyes of investors.
If futures prices of oil will become cheaper than the prices in the short term, the futures market can also attract money offering to investors opportunities to increase short-term profits.
By all indications, the efforts of Opec and producing countries which also joined the agreement will boost the oil market again. The expectation is that investors back the profit and that they can safely invest in petroleum market progress and trusting.
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