Oil: Prices vulnerable? - Rabobank

Analysts at Rabobank note that the emerging markets have improved on the margin from the mid-October lows despite continued weakness in oil prices - calling into question recently established short positions.

Key Quotes

“The US is set to become a net energy exporter on a notional basis in 2019 and we suspect Trump will shift his focus from pressuring oil prices lower to achieving energy independence.”

“We expect Brent to rally into the low-70s ahead of the December 6th OPEC meeting.”