Oil falls after IEA revises supply forecastFrom BNN today:
https://www.bnn.ca/oil-falls-after-iea-revises-supply-forecast-1.565998
Another opinion (which I happen to hold). Oil doesn't have to go up in the near future; in the next year. America doesn't have to produce expensive oil if it can buy it cheaper off-continent product so their rig numers and production numbers can continue to drop. The World doesn't have to undergo expansion and use more energy and most importantly, the market doesn't have to assume that the price is going up and buy now in order to make a profit in the near future and can pull their money out of the sector I.e., the price of WTI can trade between $35 to $45 for the next year, especially when, possibly in the next few months, the US reaches storage capacity.