Vectis Energy Partners Principal Tamar Essner joins Yahoo Finance Live to discuss what this means for the oil market. Essner notes that “Saudi Arabia might have a little bit of difficulty because their production cuts are going to be offset by higher production from other countries within OPEC,” but “it is really significant because they’re trying to address the skepticism of the market.” Essner says “the market’s so sensitive to China.” “The negative headlines about the property sector there have somewhat dampened petrochemical demand for oil. But post Covid and post the lockdowns, mobility demand has more than offset that… so demand in China has really been good,” Essner explains. Essner adds that for oil prices, “the base case is that oil is sort of in a nice range here between now and the end of the year.”
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