OPEC and Hedge Funds Could Be Setting Oil Prices Up for a Fall
OPEC Disappointment Spurs Oil Market Selloff, Says Morse
This article is for subscribers only.
As OPEC and its allies prepare to meet this month, expectations may be running so high they can only disappoint.
From Russian President Vladimir Putin to Saudi Arabian Crown Prince Mohammed bin Salman, signals abound that the grand alliance of oil states will choose to prolong supply cuts when they gather on Nov. 30. Spurred by these hopeful signs, hedge funds have laid on record bets that Brent crude futures will keep rising.