Oil Market Faces 2 Million Barrel-per-Day Surplus, BofA's Blanch Says
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“The market is oversupplied, inventories are rising,” Francisco Blanch, head of commodities research at Bank of America Global Research, says in Bloomberg Television interview. “We expect roughly a 2 million barrel-a-day surplus this year in the global Brent market,” he says.
This didn’t age well
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Well this aged badly. That Chinese solar panel isn’t looking so bad now!
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Back to $30-40 oil
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Fill the reserves up
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then why the oil prices is still so freaking high in the US. Maybe it's time to leave this country.
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Just send the oil surplus to Cuba they really need it atm. 😎
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and dont trust any people from the bankng industries.. banks are the biggest scam in the world
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thats why im bullish on oil.. tv peopl think its going down..fake news. all these ppl are fake
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What am I missing? How does a glut bring about higher prices?
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Don’t believe a word of these idiots , selling oil surplus story for 18 months and oil is now at 70 😮
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dark oil tanker inventories will drain very slowly
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More User Perspectives
lol, oil is starting the bull market
@dmytro8boykoGood store it, bag it and tag it keep up reserves and build more reserves for 1 year, 2 year, 5 year, 10 year, 25 yeara etc. We should set a purchase floor to always be buying oil so it can be put into stockpiles.
@freedomforlove101US shale producers need to reduce output ?
@RezaAfsharT2WSo why are the oil stocks steadily going up...? These guys are full of it. Buy when they say sell and sell when they say buy.
@emperor68188Give it to Cuba!!
@LeeahhhPutin selling at $34 has kept prices down
@peterbedford2610Oil and Oil stocks still rally - and there is a potential bullish cross on 12 month MACD - which already has happened with: XOM, SLB, CVX etc. Etc.
Oil looks extremely bullish chartwise going up to maybe even 200$ per Barrell
Even though fundamentals tell another story - lets see how it plays out 🤷🏻
That's why Middle East countries, Russia and China didn't like Venezuela alignment with Western countries.
Market disruption.
Better leave them Venezuelans ruled by an ignorant dictator.
World is moving on from oil.
@edc1569😂😂😂😂😂😂
@gargarnithanhlaing650Don’t worry. The Iranians have a plan. 😉
@exnihilonihilfit8688Gas prices going down
@Marshalllapenta-b1mGood , then lower the gas prices you trolls.
@BetchFace-v4f