OPEC Dismisses Overblown Negative Oil Sentiment Despite Falling Prices and Growth Concerns
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OPEC criticized "overblown" negative oil market sentiment in its November report, despite production cuts and Middle East conflict.
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Oil prices have fallen recently despite OPEC's strong demand forecasts, which it blames on financial speculators.
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Concerns remain over China's property sector, Europe's recession risk, and impact of interest rate hikes on growth.
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OPEC sees upside in U.S., India demand, but questions how much OPEC will benefit from India's Russian crude appetite.
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Negative sentiment is not overblown nor non-existent, but somewhere in the middle given mixed signals on demand and growth.