The Signal We’ve Been Waiting for in Oil Stocks
Monday, February 8, 2016 16:42
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by Justin Spittler
Casey Research
A giant American oil company just did the unthinkable…
If you’ve been reading the Dispatch, you know the world oil market is in crisis. The price of oil has plunged 71% since June 2014.
The world simply has too much oil. Global oil production hit a record high last year. Thanks to technologies like “fracking,” oil companies can now access billions of barrels of oil that used to be trapped in shale rock formations.
The Wall Street Journal reported last week that the global economy is oversupplied by about 1.5 million barrels a day.
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Source: http://financialsurvivalnetwork.com/2016/02/the-signal-weve-been-waiting-for-in-oil-stocks/?utm_source=rss&utm_medium=rss&utm_campaign=the-signal-weve-been-waiting-for-in-oil-stocks
