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Analysts told CNBC that U.S. oil output growth would be the critical factor for crude prices in 2020. They also named oil demand growth and the OPEC+ agreement, which cut output by an extra 500,000 barrels per day from January 1.
They warned of possible sharp corrections.
Expectations for U.S. supply growth cap how far OPEC+ cuts can lift prices. Energy price direction affects biofuel and freight costs for feed buyers over the year.
cnbc.comSam MeredithJan 2, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
