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Commodities Briefing - Categorized | Market Moves, Oil more

It’s too early for the oil market to say farewell to oversupply

Posted on 17 May 2016

The oil market has started to bid adieu to the global glut of crude supplies—but the goodbyes may be premature. Although some traders and analysts agree that the world’s crude oversupply, which has plagued the market for more than two years, is dwindling or slipping into a deficit, few believe it’s a situation that’s likely to last long.
“Outages in Canada and Nigeria are helping to bring the market into balance, but these outages are more temporary in nature,” said Matt Smith, director of commodity research at ClipperData………………………………………..Full Article: Source


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