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OILX - Focusing On Fundamentals: Oil Price Update And Outlook
UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
The history-making moves in oil this year have seemed to give way to a momentary calm, with West Texas Intermediate ((WTI)) oil prices trading in a range of $35-40 per barrel (bbl) for the first three weeks of June. OPEC and its allies (OPEC+) are doing their part to add stability to the market with their production cuts. Meanwhile, other non-OPEC producers like the US have seen companies respond to lower oil prices by shutting in production, though volumes are starting to return with the rebound in prices. Oil demand has recovered from its lows