Oil - to reduce supply overhang "more supply destruction is needed"

HSBC comments on the oil market:

HSBC economist Fred Neumann:

– "the problem… lies with all the extra supply (e.g. Iran) that has poured onto markets. That means that even a (demand) pick-up in China, in any event likely to be marginal, may not be enough to sustain the latest rally."

sumber: