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Video / 26 May 2016 at 9:29 GMT

Oil has reached $50/barrel – now what?: Hansen

Ole Hansen
Ole Hansen, head of commodity strategy at Saxo Bank, analyses the rise in Brent crude oil to above $50/barrel – the first time it has traded at that level in the past six months. 

The higher price is a result of supply disruption and production reduction, says Hansen, who adds there may now be some breathing space for high-cost producers with greater ability to maintain output. 

More supply disruption is taking place in Nigeria, cutting the country’s production to a 20-year low, which Hansen says will support the market in the short term.
26 May
Martin O'Rourke Martin O'Rourke
WTI has also broken through $50/barrel. It was at $50.07/b at 1229 GMT. Brent was at $50.35/b.
26 May
Gord Vancouver Gord Vancouver
Would like to hear you or Steen comment on this article re China's oil "demand" as opposed to it's supposed real action of getting loan repayment in the physical commodity
26 May
stranger stranger
I think the correction will start (wti oil) at 51.60-52.40


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