| As oil prices collapsed last fall and winter, conventional wisdom in the market held that the global glut of crude would stop growing in the second half of 2015 and then shrink as demand picked up, bringing the market back into balance.
Mid-year is now just two weeks away, but the expected re-balance is nowhere in sight. Two data points tell the story: The Organization of the Petroleum Exporting Countries is continuing to produce well above its quota, and U.S. output is still rising even as the industry slashes infrastructure tied to production...............................................Full Article: Source
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