Crude Inventory Declined 6.9 Million Barrels, Says EIA

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Roth MKM sees upside for oil in 2024 - here's why

December 28, 2023 11:41 AM EST

Analysts at Roth MKM said in a note this week that they believe oil will have some upside in 2024 despite institutional investors being "the most underweight energy since the midst of the pandemic in 2020."

Leo Mariani, an analyst at Roth MKM, also noted that there isn't much confidence in the commodity price outlook for 2024. However, they believe this will prove to be overly bearish.

"Positioning by institutional investors in energy equities has become increasingly... More