Russia's Novak Says We See A Record-High Global Oil Demand; Says OPEC+ May Tweak Its Decisions If Needed
Portfolio Pulse from Bill Haddad
Russia's Energy Minister Alexander Novak has stated that there is a record-high global oil demand. He also mentioned that OPEC+ may adjust its decisions if necessary.
October 04, 2023 | 12:24 pm
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The United States Oil Fund (USO) could be impacted by the record-high global oil demand and potential adjustments in OPEC+ decisions.
The United States Oil Fund (USO) is an exchange-traded fund that aims to track the price of West Texas Intermediate (WTI) light, sweet crude oil. Therefore, any changes in global oil demand or decisions made by OPEC+ could significantly impact the price of WTI crude oil and, consequently, the performance of USO.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80