{"id":652087,"date":"2017-02-28T04:07:14","date_gmt":"2017-02-28T04:07:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/28\/oil-to-trade-in-a-tight-range-in-2017-fewer-opportunities-to-make-money\/"},"modified":"2017-02-28T04:07:14","modified_gmt":"2017-02-28T04:07:14","slug":"oil-to-trade-in-a-tight-range-in-2017-fewer-opportunities-to-make-money","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/28\/oil-to-trade-in-a-tight-range-in-2017-fewer-opportunities-to-make-money\/","title":{"rendered":"Oil to trade in a tight range in 2017, fewer opportunities to \u201cmake money\u201d"},"content":{"rendered":"

Oil is expected to stay in a tight range of USD 50-60 per bbl in 2017 as a recovery <\/strong>in US shale output \u201ccounterbalances the OPEC supply cut deal to reduce the global glut,\u201d<\/strong> Litasco Chief Executive Tim Bullock told Reuters<\/a>. He says \u201cit\u2019s difficult to see Brent going much below [USD 50] per barrel and with shale and everything lining up on the other side, it's difficult to see it going much above [USD 60] per barrel.\u201d Bullock adds that \u201ca lack of volatility means trading houses will no longer have the extra boost as in the last two years following the 2014 oil price crash.\u201d He says it became more difficult for traders to \u201cmake money\u201d by the end of 2016 as \u201cthere was less volatility and less structure \u2026 2017 looks like an extension of that.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil is expected to stay in a tight range of USD 50-60 per bbl in 2017 as a recovery in US shale output \u201ccounterbalances the OPEC supply cut deal to reduce the global glut,\u201d Litasco Chief Executive Tim Bullock told Reuters. He says \u201cit\u2019s difficult to see Brent going much below [USD 50] per barrel […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9272],"tags":[72,1510],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-652087","post","type-post","status-publish","format-standard","hentry","category-the-macro-picture","tag-enterpriseam","tag-the-macro-picture","wpautop","entry"],"acf":{"mongo_id":"8fb46293-b371-4ca4-a528-b28023b62901","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[652066],"teaser":"","voice_url":""},"yoast_head":"\nOil to trade in a tight range in 2017, fewer opportunities to \u201cmake money\u201d - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/28\/oil-to-trade-in-a-tight-range-in-2017-fewer-opportunities-to-make-money\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil to trade in a tight range in 2017, fewer opportunities to \u201cmake money\u201d\" \/>\n<meta property=\"og:description\" content=\"Oil is expected to stay in a tight range of USD 50-60 per bbl in 2017 as a recovery in US shale output \u201ccounterbalances the OPEC supply cut deal to reduce the global glut,\u201d Litasco Chief Executive Tim Bullock told Reuters. 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Key takeaways: On job creation: \u201cThe government doesn\u2019t necessarily need to invest in job-creating sectors. The government needs to invest in policies and regulations that\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650968,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/01\/goldman-sachs-has-a-rosy-outlook-on-commodities-for-the-balance-of-the-year\/","url_meta":{"origin":652087,"position":1},"title":"Goldman Sachs has a rosy outlook on commodities for the balance of the year","author":"enterpriseam admin","date":"1 February 2017","format":false,"excerpt":"Goldman Sachs bullish on commodity demand in 2017: We are entering the stage of the business cycle typically characterized by higher commodity demand. Higher demand is driving Goldman Sachs Research\u2019s positive commodity outlook in 2017, Jeff Currie, head of commodities research, says. He expects oil will trade marginally higher during\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651453,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/13\/turkey-is-out-of-favour-with-funds-oil-and-gas-discoveries-at-60-year-low\/","url_meta":{"origin":652087,"position":2},"title":"Turkey is out of favour with funds, oil and gas discoveries at 60-year low","author":"enterpriseam admin","date":"13 February 2017","format":false,"excerpt":"Oil and gas discoveries are at a 60-year low, with the Zohr gasfield discovered off Egypt\u2019s shore in 2015 being the most recent giant discovery, the Financial Times reports. 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