RE:Oil Supply and DemandRelated to the PoO going forward is an interesting article in the Financial Post today:
Goldman and other forecasters say outages in Canada, Nigeria and declining production in the U.S., Venezuela and Libya are key factors draining excess supply from markets in recent weeks, leading to a balance that has eluded markets for the past 18 months and depressed prices. In its latest market outlook, the International Energy Agency also expects global surplus of oil to “shrink dramatically later this year.”
But oil’s rally could be halted by developments in two of the world’s largest crude oil producers.
https://business.financialpost.com/news/energy/oil-at-us39-two-factors-that-could-stop-the-oil-rally-dead-in-its-track-in-the-short-term?__lsa=7c84-5b51 A number of analysts have oil correcting quite nicely by the end of 2016. The one real wild card in 2016, in my opinion, will be the US Presidential election. If Trump is elected, his isolationist musing could dry up the equity markets in a heartbeat. The idea of killing the various free trade agreements, shutting the US off from immigration and threatening US based multinationals will simply create fear which could very quickly put the globe into a major recession. Hopefully this little company is sold before the end of October, otherwise it may never get sold.