On September 9, Jinshi Data News, analyst Javier Blas said that the comments on the first day of the annual Asia-Pacific Petroleum Conference (APPEC) held in Singapore have been quite pessimistic so far. Oil traders Vitol, Trafigura, and Gunvor all stated that the market supply is very abundant. Trafigura, who is usually bullish, believes that there is a risk of oil prices falling to $60/barrel “soon”.
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Analyst: Oil traders are pessimistic about the oil market
On September 9, Jinshi Data News, analyst Javier Blas said that the comments on the first day of the annual Asia-Pacific Petroleum Conference (APPEC) held in Singapore have been quite pessimistic so far. Oil traders Vitol, Trafigura, and Gunvor all stated that the market supply is very abundant. Trafigura, who is usually bullish, believes that there is a risk of oil prices falling to $60/barrel “soon”.