Saxo Bank says OPEC+ actions can drive Brent to $90 in 2020

MOSCOW, Dec 3 (PRIME) -- Russia and the OPEC states will announce a new significant reduction of oil output in 2020, and the Brent price will return to U.S. $90 per barrel, Saxo Bank said in one of its Outrageous Predictions released on Tuesday.

“In 2020, we see the tables turning for the investment outlook as OPEC extends production cuts, unprofitable U.S. shale outfits slow output growth and demand rises from Asia once again,” Head of Equity Strategy Peter Ganry said.

Russia will also be the winner from a rising interest in clean energy as one of the key producers of palladium used in cars for climate improvement, and nickel used in car batteries.

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