Daily LNG price update (rally on)

Tuesday, 10 February 2015

The oil rally continued overnight as OPEC patted itself on the back, from the FT:

Crude prices rallied after Opec forecast a rise in demand for its own oil this year amid a slowdown in US output, in a sign that the cartel’s policy of maintaining output appeared to be working.

In its monthly market report, the producers’ cartel said it was raising its forecast for 2015 demand for its own oil by 400,000 barrels a day to 29.2m b/d.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.