| The near 80 per cent rebound in oil prices from their February lows has finally started to fizzle and we believe more corrections are on the cards in the near-term as some of the pillars of the price rally start to give away.
Investors were reluctant to buy at higher levels and prices could not sustain above $50 for much longer. One of the biggest factors driving the recent rally was unexpected supply outages, which pushed around 2.5-3 million barrels per day (bpd) of crude oil out of the global market. Adding to that, the slowdown in US oil output and a weaker dollar exacerbated the price strength...............................................Full Article: Source
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