Commodities
Oil Market to Get ‘Extremely Tight’ in Second Half, Citadel Says
- Prices could rise to a level that will constrain demand
- OPEC regained control of the market, says Sebastian Barrack
Global oil markets are on track to be “extremely tight” in the second half, with prices rising to a level that will eventually constrain demand if OPEC doesn’t bring back more supply, said the head of commodities at hedge fund Citadel.
“It has really fallen back to OPEC,” Citadel’s Sebastian Barrack said at the FT Commodities Global Summit in Lausanne, Switzerland on Monday. The group has “definitely regained control.”