http://www.bloomberg.com/news/articles/2016-04-29/oil-market-deja-vu-triggers-predictions-of-a-return-to-30
Meanwhile, WSJ piece notes:
“Even as oil
rallies, analysts have barely nudged up their price forecasts as they worry
that crude’s recent gains might not be sustainable.
The price of oil
has jumped 76% from the decade-low it hit earlier this year. That is mainly on
hopes that dwindling U.S. oil production will help take crude out of an
oversupplied market.
But many analysts aren’t buying the rally. They question whether the glut is indeed on the wane given current stockpiles and the potential for increased supply from Iran and elsewhere. They point out that last year, the oil price also rallied in the spring on a belief supply was falling, only to collapse in the year’s second half.”
But many analysts aren’t buying the rally. They question whether the glut is indeed on the wane given current stockpiles and the potential for increased supply from Iran and elsewhere. They point out that last year, the oil price also rallied in the spring on a belief supply was falling, only to collapse in the year’s second half.”