The market is still worried about oversupply

Taylor Vitol, chief executive of the planet's largest oil trader, Ian, noted that the oil marketplace oversupply of the state will certainly continue, is expected within New York oil prices inside 2016 will fluctuate among 40-60 dollars.
Goldman Sachs analysts recently released the actual report pointed out that, due to the separation of the United States, the number of oil area drilling, the future trend associated with U. S. crude essential oil production is still uncertain. Due to the increase in output of no OPEC countries, global necessary oil production is ample. Primitive oil prices must be held low, in order to allow the industry to reach the balance of provide and demand at the end of 2016. The bank is expected to immediate New York oil prices in $45 a barrel degree fluctuations.
Hughes Beck, america oilfield technology Service Corporation presently released data show that this number of oil field going operations in the United States now dropped sharply last year. However , experts pointed out that the existing oil industry drilling capacity than in the past an amazing increase.
Citigroup's report highlights, the United States crude oil business to improve the efficiency regarding mining, the current output involving 70% from 30% from the oil wells. Morgan Stanley report stressed that regardless of the U. S. operations in the number of oil field going has significantly decreased in contrast to last year, but is likely to the end of this year, Oughout. S. crude oil creation will remain at historic levels.
Hedge fund manager Chen Kaiping, account manager of commodity investing, said, after the market with regard to emerging market countries, our economy is overly pessimistic, resulting in the sale of commodities, such as oil prices, including. Following the release of the U. H. economic data better than anticipated, the market risk appetite increased, the capital return to the olive oil market. Chen Kaiping remarked that due to the global supply of primitive oil, the cost of production within the decline, coupled with the future Government Reserve to tighten financial policy, New York oil costs in the future may still be beneath $40.
Andiran (Andurand Pierre), a well-known commodity hedge fund manager, stated he believes the United States and also the United States and the amount of acrylic production, oil prices continue to be likely to fall below $30. He manages the fund's net profit last year due to falling oil prices along with a large profit. He declared the market in the 2016 in order to 2017 is a surplus, and for that reason need to lower oil rates to make the oil market source and demand balance, there is absolutely no quick solution. He additional predicted that by the end of the year, the United States of raw oil production will be less than the current level of 200000 barrels. He expects the next 2 yrs, the volatility of essential oil prices is 25-50 bucks in New York.

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