Oil's Upside Is Limited, Saxo Bank's Hansen Says▼

Business

Published 117d ago

Saudi Arabia is unlikely to announce further cuts in oil production, according to Ole Sloth Hansen, head of commodity strategy at Saxo Bank, because it would risk yielding market share to other producers. "These voluntary cuts have become almost a force of habit," Hansen said on "Bloomberg Surveillance." "It's going to be very difficult to to continue to cut if we don't see any sizable cuts from some of the other major producers at the same time," he added. Source