Bad News For Oil BullsRupert Hargreaves
Oil bulls just can’t seem to catch a break. After prices were hammered at the end of last week on higher investor figures, this week it has emerged that OPEC production reached a new record last month. And to compound the misery, today the International Energy Agency issued a report claiming that oil demand growth is set to slow next year. Together these two developments indicate that the oil market is unlikely to return to balance anytime soon.
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