Virendra Chauhan, Oil Analyst, Energy Aspects expects oil to trade sideways from here on till the OPEC meet on November 30. The market is taking a breather after a strong rally post the first OPEC meet, says Chauhan.
Crude oil prices have continued to be volatile reacting to every data, event and the commentaries by oil producers. Brent crude was trading around USD 52 per barrel mark. Chauhan expects Brent crude to trade in the range of USD 50-60 per barrel on back of uncertainty surrounding what OPEC will do in the next meet.
According to him, usually during the months of September-October the demand for crude falls.
More to come
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