JPMorgan Says French Strike Will Cut Oil Demand Until Next Year
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JPMorgan Chase & Co. said strikes that have halted refineries acrosss France will cut oil demand until next year.
“Beyond any surge in demand as consumers seek to stock up where possible, the prolonged nature of this strike will result in lost demand as was evident the last time French strikers disrupted deliveries,” analysts at JPMorgan led by Lawrence Eagles in New York said in a note today.