FT Alphaville » ‘The biggest overproduction for any quarter since 1998′

Did anyone notice how the Brent slump seemed to come to a dramatic halt around June?

More to the point, how since the first quarter of 2011 Brent’s faithful $100-$125 per barrel trading range was put at risk by the move below $100 per barrel?

Now consider the following report from Bloomberg on Thursday that suggests there’s a lot more oil out there than price trends indicate (note our emphasis):

* username: rupertbu