03.11.2016 - Falling oil prices could crack $40 and get OPEC talking deal
Bottom line, the U.S. data show a world that is still oversupplied with oil. Oil prices plunged after a record 14.4-million barrel jump in U.S. crude supply, and they could continue to fall toward $40 a barrel or lower, unless OPEC and global producers make progress on a production deal. "In the absence of stronger statements or better weekly stats, you'll see it trending down. The problem is the market is really long at this point," said Helima Croft, head of global commodities strategy at RBC...........................................Full Article: Source
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