If oil exporters don't do any thing we should wait for scary prices like 30$. As long as the trade war is deepening this is most probable scenario. Wait for the 50$, below it differently scary...
It's gonna be the third trend shift in last three months. Price has a 10% - 15% gap with its medium to long-term trend low. Real economic situation is tough, Trade war has been exacerbated and expectations will be more and more toward more economics risk. So the long-term trend low is gonna increase and any decrease in price would be for very short-term.
- IMO key take aways from the report was the highlighting of brexit as a downside risk and readjusting global growth as a result - despite the UK being only 4% of world GDP. Nonetheless OPEC went on to stress that oil supply side is likely to abate over the next year with demand excess reducing supply stocks - this is likely going to see an increased price in oil...