Monday, May 01, 2017

We All Knew This, The OPEC Cuts Were Useless

Keeping Oil Down: Weak Demand for Gas Combines with Libyan Pipelines

Oil prices fell again this week as lower than expected demand for gasoline combined with two major oil fields in Libya resuming production to further depress crude prices. The combination of lower than expected demand and increased production stoked concerns that despite the efforts of major oil producers the global inventory surplus would remain unaffected. U.S.…