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NRGZ - Growing Demand From Non-OECD Countries Will Support Oil Prices In The Long Term
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E Sr MedTrm Nt
If there is one factor that can truly support oil prices (USO) in the long term, it is growing demand from non-OECD countries like India and China. It wouldn't be wrong to say that there are several factors that are currently acting against oil prices. In my previous article on this subject, I had stated that the ongoing U.S.-China trade war and rising U.S. oil production as the two major factors that were putting downward pressure on oil prices. Investors must note that WTI and Brent were trading at $60.98 and $64.86 respectively