Crude Drawdowns Can’t Save Oil Prices
Oil prices got walloped this week on growing concerns that U.S. shale is coming back too quickly, offsetting the progress made by OPEC. Meanwhile, disrupted Libyan production could come back online, taking one of the few reasons to be bullish away.
Oil prices felled by Libyan oil restart and weak gasoline demandReuters
Oil prices are tanking, now below $49 a barrel at a 4-week lowCNBC
Oil prices finish at lowest level in a monthMarketWatch
The Star Online –RT –Seeking Alpha
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