| Equity analysts at Nomura lowered their oil macro price assumptions for 2016 reflecting a decreased probability that the Organisation for Petroleum Exporting Countries will cut its production. The brokerage believes Saudi Arabia’s stance would remain unchanged given the oil kingdom’s desire to maintain market share in the context of Iran and its willingness to tolerate oil prices in the range of $50-$60 a barrel on a two to three year view.
“A lack of unity among OPEC members makes a constructive outcome from any emergency meeting unlikely, and points to a difficult backdrop ahead of the next [OPEC] meeting on 4 December,” Nomura analyst Theepan Johilingam said...............................................Full Article: Source
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