26.10.2015 - Oil Prices May Stay Depressed Until 2017
Oil markets are still oversupplied, and unless something shocks supply soon, it'll be the end of 2017 before they're finally back in balance. The market seems to keep thinking that a recovery in oil prices is just around the corner, sending oil prices higher or lower based on bullish or bearish comments each day. But it'll likely be some time before oil prices move much higher. The behemoth of an oil market was simply heading into an oversupplied situation too quickly to turn around in just over a year. So, energy stocks are in for more pain before reaching an eventual equilibrium. According to the U.S. Energy Information Administration, global oil markets were oversupplied by 1.8 million barrels per day in the third quarter of 2015...............................................Full Article: Source
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