Feds predict return of US$50 oil

WTI Crude Oil

If you own or are planning to buy oil stocks, be very careful.

"There is a bit of a bearish twinge to everything. but we believe in the second half (of the year), you'll see demand pull the market back up again", Natixis oil analyst Joel Hancock said. Because everyone seems to buying into the idea that there's growth in the global economy, and a lot of oil could be needed in the coming quarters. "For one thing, less crude oil is being transported from Canada to Cushing due to the restricted capacity of the Keystone pipeline". Sure, there could be growth in the global economy and a lot of oil could be needed.

'Rising global oil demand will be driven mainly by emerging markets, with non-OECD consumption rising by an average of 2.8 percent per year in 2018-19, which would be the fastest rate since 2013, ' the Economist Intelligence Unit's Birch said. To meet the expected spike in gas demand, European gas prices are expected to rise in order to compete with the Asian LNG premium market.

U.S. West Texas Intermediate and international-benchmark Brent crude oil closed higher on Monday, but a little off their highest levels in three weeks.

"We've got a lot more oil to produce and we'll be through that 11 million barrel-per-day threshold much sooner than expected", said Streible.

US crude inventories have fallen more than 100 million barrels in 12 months, to their lowest in three years. "If (as expected) USA shale production continues to increase during 2018, then exports will flow", Sandy Fielden, director of oil and products research at Morningstar, wrote in a research note.

2 policemen shot dead by militants
This attack came hours after another police constable was shot dead in Badgam district. Open information helps with informed decisions.

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ GRAPHIC: Russia vs Saudi vs USA oil production http://reut.rs/2EIuTWS ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^.

In its supporting budget plan documents, the federal government predicted a drop in oil prices. Equities markets weakened on Wednesday, while the US dollar.DXY hit a one-month high. And shale production is booming and on course to crown America as the world's top oil producer as early as later this year.

Soaring U.S. production has pressured oil futures at a time when members of the Organization of the Petroleum Exporting Countries (OPEC) and Russian Federation have reduced output in an attempt to support prices.

Take the United Kingdom, for example.

Futures in NY slid as much as 0.4% after closing at a three-week high on Monday as an advance in equities revived optimism about economic growth and Libya's crude exports from a key terminal were impeded. "If those numbers change consistently to the upside, we would see the market react in the other direction".

'The supply deal remains a key uncertainty for the oil market.

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