Oil: The Long-Term Trend Is Clear

Wednesday was a busy day for oil watchers.

Following comments from the International Energy Agency on Tuesday, Goldman Sachs published a report this morning saying about it expects the oil market to return to surplus early next year after moving into a small deficit over the coming six months.

Specifically, Goldman noted:

“We continue to view the recovery in prices and fundamentals as fragile. In particular, we expect that the second half deficit will remain modest at current prices and that a return into surplus is likely in the first quarter of 2017 before . . .

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