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YGRN - USA Exporting More Crude Oil To Asia But Flows To Europe Could Strengthen In Q3
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
The United States is expected to play a significant role in the recovery of oil prices over the coming months, with their crude oil output falling while demand is rising. This could support the global oil industry and could potentially drive the surplus of 2020 Q2 into deficit. The impact could reach nearly nine million b/d by year-end. Meanwhile, China increased its crude oil inventories by 440 million barrels in the first six months of 2020 and has returned in a big way as a key outlet for US crude exports.