CRG’s own Andy Lebow is quoted in the Wall Street Journal here:
““If there’s any impact on the global economy from disruption of trade due to tariffs, that’s going to have an impact on oil consumption,” said Andy Lebow, a senior partner at Commodity Research Group.
Combined with the upcoming OPEC meeting, Mr. Lebow said, the trade tension was prompting traders to liquidate their bets that prices would rise.“
Here is more from the Journal:
”While Saudi Arabia is considering an increase of 500,000 to 1 million barrels a day and Russia wishes to raise output as much as 1.5 million barrels a day, some OPEC members including Iran and Venezuela don’t support an increase, according to Carsten Fritsch, an analyst at Commerzbank.”