Where Next for the Oil Price?
(Bloomberg Opinion) -- As winter keeps its grip on the northern hemisphere it is the oil bulls, not the bears, who have gone into hibernation. The price rally that greeted the new year has fizzled out as renewed concerns about demand growth outweigh the tightening of oil supply through OPEC cuts and U.S. sanctions. Saudi Arabia had already started to deliver on its promised output reductions in December and went beyond what was pledged in January. U.S. production growth has stalled — for now — and President Donald Trump’s sanctions on oil ...
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