Video: OPEC failure may trigger sharp crude correction – Ole Hansen SAXO Group

The Russian and Saudi energy ministers met ahead of Opec’s late-November deal, but Saxo Bank head of commodity strategy Ole Hansen says the future for oil remains cloudy.He also discusses how the prospect of a deal struck between Opec and non-Opec members has driven oil higher throughout October.But with few Opec producers in a position to reduce their oil production – Iraq, for instance, says it needs its oil revenues to fight ISIS – Hansen fears that any failure to strike a strong deal may trigger a sharp correction in the market.

Source: Opec failure may trigger sharp crude correction: #SaxoStrats | Videos

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