Last Thursday alone, oil fell 6% and ended the week 7% down, it’s worst weekly lost in 2019. But one has to keep things in perspective, oil is still up almost 30% year to date.
The combination of a perceived global economic slowdown, higher levels of US oil storage, and rumors of a possible de-escalation of the Iran-US crisis are mitigating the clear and present danger in oil and gas markets When looking at crude oil markets, the situation on the ground is a clearly pro-OPEC. The speculation about a possible end to the OPEC+ production cuts is largely unfounded. US
Add your Scripsio!
Comments