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Commodities Briefing - Categorized | Market Moves, Oil more

Why economic growth alone won’t fire up oil in 2014

Posted on 30 December 2013

Like any other asset, crude oil trades on supply as well as demand. And while an improving U.S. economy can be expected to boost the demand for oil, a stronger supply picture should take any wind out of oil’s sales in 2014.
“Although the U.S. economic growth story might make it seem as though rising petroleum demand should lift prices, the uptrend in U.S. crude oil production is likely to be the dominant fundamental factor for the oil market in 2014,” Tim Evans, energy futures specialist at Citi Futures, wrote to CNBC.com………………………………………..Full Article: Source


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