Oil markets are enjoying a modestly bullish March on the back of coordinated OPEC+ production cuts and unplanned production outages in Venezuela. Peripheral bullish narratives have included dovish central bank action and progress towards a US/China trade deal which could be signed as early as April. On the other hand, global economic health fears, a persistently strong USD and elevated US production have held rallies in check. Last week’s key headline that the US Fed plans to delay further rate hikes touched on two of these themes. Central…
