bullish

Crude Oil

Quick Views: Crude's Panicky Sell-Off Overdone; Presents Buying Opportunity

Vandana has highlighted this Insight as a Top Pick
207 Views29 Nov 2021 10:33
SUMMARY
  • Crude's 12-13% crash on Friday as markets were spooked by news of a new highly mutated variant was overdone, factoring in the worst-case scenario. It presents a buying opportunity.
  • Information on the omicron variant is still thin. The South African doctor who first flagged the mutant strain said over the weekend that the fear is unjustified, symptoms are "mild".
  • OPEC+ may now consider a pause in its monthly output increments or even a deeper cut, which will be supportive of crude.
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