”The announcement by the US of sanctions on two Russian oil producers has created more supply uncertainty in the oil market. However, we are holding back from revising our forecasts higher until the impact of these sanctions becomes clearer. US sanctions on two Russian oil producers has increased supply uncertainty in the oil market. Bearish oil outlook retained – at least for now. US sanctions on Russian oil producers, Rosneft and Lukoil, has led to more uncertainty over the supply outlook for the oil market. The announcement caught the market off guard, with speculators having become increasingly bearish towards the market ahead of the announcement.”
Morten W. Langer
