Thursday, October 12, 2017

Overflow Of Oil Being Downplayed, I'm Still Bearish Over Medium Term

Oil glut going but growth not over a barrel: OPEC

The OPEC oil cartel said Wednesday it sees the glut in oil supplies that has hammered crude prices disappearing as global economic growth picks up, but costs are expected to remain stable. In its regular monthly report, the Organization of the Petroleum Exporting Countries, said that "increasing evidence that the oil market is heading toward rebalancing"…