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Commodities Briefing - Categorized | Oil, Price Watch more

Oil Prices Should Fall, Possibly Hard

Posted on 08 March 2016

Oil prices should fall, possibly hard, in coming weeks. That is because fundamentals do not support the present price. Prices should fall to around $30 once the empty nature of an OPEC-plus-Russia production freeze is understood. A return to the grim reality of over-supply and the weakness of the world economy could push prices well into the $20s.
An OPEC-plus-Russia production cut would be a great step toward re-establishing oil-market balance. I believe that will happen later in 2016 but is not on the table today………………………………………..Full Article: Source


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