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Supply Crunch Or Oil Glut: Investment Banks Can’t Agree
Posted by BFP Staff on May 5, 2017 at 08:32 PM
"In the next few years, oil supply is growing in the United States, Canada, Brazil and elsewhere"
By Tsvetana Paraskova for Oilprice.com
In recent years, U.S. shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oil price forecasts by Wall Street’s major investment banks.
The biggest banks remain bullish on oil prices, expecting moderate price gains by the end of the year, even after last month WTI prices dropped below $50 for a couple of weeks.
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