13.01.2016 - The bull and bear case for crude oil
Oil’s dire performance since the start of the new year continued on Tuesday as prices of benchmark Brent crude and US marker West Texas Intermediate flirted with $30 a barrel. Concerns about China’s economy, whose growth led a surge in global oil demand over the past decade, together with still robust US production and a jump in output from Opec producers has taken prices to levels last seen more than a decade ago. But where do prices go from here? The Bear Case — Ed Morse, global head of commodities research at Citigroup: “It would take an unusual series of supply disruptions to change this course of price behaviour. In the short-run the market outlook for oil is fairly bleak...............................................Full Article: Source
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