| Just when investors thought the oil rout was over, an analyst at Citi warned that the recent 20% rally in the price of oil is just a "head fake." Worse yet, Citi sees the price of oil resuming its plunge and going all the way down to $20 per barrel. That's quite the opposite view of many others as OPEC said it thinks that oil has already bottomed and could zoom higher while the International Energy Agency, or IEA, sees $55 oil being here to stay this year.
However, as we've seen in this market, anything is possible once OPEC steps aside. A big drop in the U.S. rig count over the past few weeks should lead to a slowdown in U.S. oil production growth, which has largely fueled the rally off the bottom in recent weeks...............................................Full Article: Source
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