14.01.2015 - 2015 Outlook For Oil and Gas ETFs
Currently, oil is deeply entrenched into bearish territory and has fallen below the $50-a-barrel level following OPEC’s decision to hold production unchanged, the effects of booming shale supplies in North America and a stagnant European economy. Moreover, a stronger dollar has made the greenback-priced commodity more expensive for investors holding foreign currency. The cut in global crude demand growth by major energy consultative bodies has put the final nail in the coffin. While the OPEC international oil cartel cut its 2015 forecasted consumption by 280,000 barrels per day from its previous expectation, the U.S. Energy Information Administration (EIA) trimmed its demand outlook for next year by 240,000 barrels per day...............................................Full Article: Source
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