HOUSTON, April 28, 2020 /PRNewswire/ -- The Oil
Prices Outlook for April 2020,
published by BBVA Research, indicates that oil prices will remain
very low in the second quarter of 2020 but are likely to recover by
the second half of the year as the worst of the pandemic is left
behind.
The report, authored by BBVA principal economist Marcial Nava, states that prices will remain
subdued even though the global economy will be boosted by fiscal
and monetary support. Though demand is also likely to recover
in 2H20, it will remain weak as the global economy takes time to
return to pre-COVID19 levels.
The implementation of OPEC+ cuts is subject to a high degree of
uncertainty, as only a few countries can comply with their quotas
in a short period of time. Instead, most countries will let their
production decline organically, which could take several
months.
Led by Nathaniel Karp, BBVA
Compass' research team analyzes the U.S. economy and Federal
Reserve monetary policy. For its analyses, the economists create
models and forecasts for growth, inflation, monetary policy and
industries. The Economic Research team also follows a variety of
issues that affect the Sunbelt states where BBVA Compass operates.
Follow their work on Twitter @BBVAResearch and
@BBVACompassNews.
Read the full report here.
See the complete library of BBVA Research publications here.
For more BBVA news visit, www.bbva.com and the U.S.
Newsroom.
Additional news updates can be found via Twitter and
Instagram.
For more financial information about BBVA in the U.S., visit
bbvausa.investorroom.com.
About BBVA
BBVA Group
BBVA (NYSE: BBVA) is a customer-centric
global financial services group founded in 1857. The Group has a
strong leadership position in the Spanish market, is the largest
financial institution in Mexico,
it has leading franchises in South
America and the Sunbelt Region of the United States. It is also the leading
shareholder in Turkey's Garanti
BBVA. Its purpose is to bring the age of opportunities to everyone,
based on our customers' real needs: provide the best solutions,
helping them make the best financial decisions, through an easy and
convenient experience. The institution rests in solid values:
Customer comes first, we think big and we are one team. Its
responsible banking model aspires to achieve a more inclusive and
sustainable society.
BBVA USA
In the U.S.,
BBVA is a Sunbelt-based financial institution that operates 641
branches, including 330 in Texas,
89 in Alabama, 63 in Arizona, 61 in California, 44 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25
largest U.S. commercial banks based on deposit market share and
ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been
recognized as one of the leading small business lenders by the
Small Business Administration (SBA) and ranked 8th nationally in
terms of dollar volume of SBA loans originated in fiscal year
2018.
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SOURCE BBVA USA