30533
Oil Prices Buckle Under Oversupply Concerns
Energy

Oil Prices Buckle Under Oversupply Concerns

Oil prices fell on Tuesday, erasing gains linked to security fears after the Paris attacks, as investor focused again on the global oversupply in crude and petroleum products that is showing no signs of abating. Analysts said that despite the deadly Paris attacks and French retaliation against Islamic State militants in Syria, prices would remain low for the rest of the year and into 2016 as oil markets stay oversupplied, Reuters reported.
Production in 2015 will outpace demand by 700,000 to 2.5 million barrels per day, according to estimates.
“Unless the geopolitical tensions, which have obviously risen since Friday, are going to be manifested in physical supply destruction in the Middle East, I think sentiment should remain more bearish than bullish,” PVM Oil Associates analyst Tamas Varga said.

Short URL : http://goo.gl/gAmbS9
  1. http://goo.gl/a3Kv41
  • http://goo.gl/G75EJ9
  • http://goo.gl/vk2Tty
  • http://goo.gl/8K7qij
  • http://goo.gl/ZmWy1K

You can also read ...

Europe Keen on Iran Joining SGC
Europe wants countries rich in natural resources to join the...
Eni Returns to Profit
New oil and gas project startups and higher oil prices helped...
Oil Gains in Weekly Recovery
Oil prices edged up on Friday as a rebound in the global...
Zarubezhneft, IDRO Oil to Study Susangerd Oilfield
Russian oil and gas firm Zarubezhneft Company has signed a...
Tehran Power Grid Wastage Declines to 3.2%
In line with efforts to minimize blackouts in the capital,...
An investment of $211 million is needed to supply 50 mcm of water per annum to the central provinces.
Water transfer from the Caspian Sea in the north and the...

Trending

Googleplus