Worst of Oil Slump Over as Glut Seen Shrinking, Amundi Unit Says
- Market will `tighten' next year with reduction in oversupply
- Return of Iranian oil post-sanctions likely to be `manageable'
This article is for subscribers only.
The worst of the oil-price slump is behind us, according to a unit of Europe’s biggest asset manager.
Brent crude, trading below $50 a barrel in London, will rise to at least $65 next year as the global surplus becomes “less acute,” Stephane Soussan, a portfolio manager at Amundi Group’s CPR Asset Management, said by phone. “The market will tighten,” he said.