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Friday, 9 June 2017

Opec’s self-inflicted wounds have made oil malaise worse

Opec’s self-inflicted wounds have made oil malaise worse:

"Tensions have risen across the Middle East over Qatar and Iran, Opec has just extended oil supply cuts until at least next March and crude inventories in the US have fallen in eight out of the past nine weeks.

Brent crude oil, in response, has just closed at its lowest level this year, languishing well below $50 a barrel.

Oil’s malaise has left bulls nursing not just wounded profit and loss accounts but irritated scalps from all the head scratching going on."



'via Blog this'