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Expect Seesaw Changes in The Oil Price Recovery
SOURCE: [theglobeandmail.com] – What will the oil price recovery look like? It’s a topic being hotly debated across the oil capitals of the world; from Dubai to Aberdeen, from Houston to Calgary; in the coffee shops and around family dinner tables, all the way to the boardrooms.
Believers in the stubborn bottom U shaped recovery suggest low prices, lasting a few years, then a graduated recovery. Others have an edgier view: A swift pullback in U.S. light oil production plus instability in the world’s geopolitical hate triangles, all of which combine to make a fast recovery, pushing prices up to $70-plus (U.S.) into 2016.
Neither of these situations are representative of what oil traders are likely to scribe. Realistically, we should be thinking of a seesaw recovery, characterized by ups and downs of varying size. The expected price volatility results from the fading of the Organization of Petroleum Exporting Countries and the shifting mix of oil supply that is holding up the world’s 93 million barrels of unfathomable daily oil production.
The post Expect Seesaw Changes in The Oil Price Recovery appeared first on Gold Editor.
Source: http://www.goldeditor.com/expect-seesaw-changes-in-the-oil-price-recovery/
