Swiss UBS strategists predict that oil will rebound to $125 in the coming months as fundamentals point to higher prices, spare capacity is ebbing and inventories are at multi-year lows. In a Thursday research note, UBS responded to Saudi comments to the effect that OPEC+ could cut production at any time, citing a “disconnect” between fundamentals and oil futures prices. The bank also noted coming disruption to oil markets when a European ban on Russian seaborne oil imports goes into effect in December. “The European Union intends to cut its dependence on Russian waterborne crude imports by December 5 and refined products by February 5. This will likely cause some disruptions as Russian oil imports to the EU amounted to 2.8m bpd in July,” the research note said, as reported by The National News . UBS strategists said an end of releases from strategic petroleum reserves in OECD countries […]