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TD Securities: us Oil is expected to break the $70 mark
Original title: TD Securities: us Oil is expected to break the $70 mark, Bart Melek, head of commodity strategy at (TD Securities) Securities, said that despite the increase in Iran's crude oil production, the group cautiously returned to the market, creating conditions for crude oil prices above $70 a barrel. The core points are as follows. The Organization of Petroleum Exporting countries and its allies insisted on cautious production production as planned, but did not discuss plans to increase production after July. Given that demand is expected to grow rapidly, the market will face a sizeable deficit over the next six months under these assumptions. OPEC+ keeps increasing production in July
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