GREY:PRBEQ - Post by User
Comment by
snootchybootchyon Apr 08, 2016 2:44am
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Post# 24743933
RE:oil price surprises
RE:oil price surpriseswestcoast1000 wrote: The quantity of oil in storage is dropping, the majors in OPEC are considering terms a production freeze, and prices are going up.
Here is a detailed article by a well-informed analyst and investor that explains why prices may go up fast. It is worth a read. I got this from the EGL board.
https://oilprice.com/Energy/Oil-Prices/Why-Oil-Prices-Will-Rise-And-Many-Pundits-Will-Be-Caught-By-Surprise.html
This is a good article. There is another excellent article
here. Also, many of these points (and numbers about drop in US and global production) were similar to the ones echoed by Eric Nuttall today on BNN. There is lots of evidence that US and global production declines are indeed accelerating. Mr. Nuttall predicted we will see a balance between oil supply and demand by the end of Q2 or early Q3. The article I linked suggests it will occur around May. Once this balance occurs and inventory builds start turning negative, it will act as a catalyst for oil prices.