Re the oil glutIs the oil glut overstated?This strategist thinks so
Here is another take (and in my opinion, a very rational one) on all the current “hype” re: excessive oil inventories. Indeed there are even some naysayers that argue (quite justifiably) ther very distinct possibility that the oil “supposedly” stored in tankers at sea may have been incorrectly measured, you know, -missing barrels. And then there is a growing chorus, (Morgan Stanley for example) who think the influence of the U.S. dollar is the main driver of the current weak price and that conditions will correct much more quickly than purported dour outlook of the EIA.
This Scott Barlow article appeared in the Globe & Mail’s ROB, Pa. B13 today. If you’re not a subscriber you can get a 1 month trial for .99 cents after clicking on the article. It’s well worth the read if only to understand that clearly, there are two sides to this story.
Hang in there COS shareholders!!!!!!