Wells Fargo sees market balance in 2016
A recent note from Wells Fargo Equity Research highlights the continued unresponsiveness of production in the face of low oil prices, but the analysts say they expect the market to rebalance in 2016. “Given OPEC’s continued focus on market share and the lack of production response thus far to lower drilling/spending from non-OPEC, the global oil market is likely to remain sloppy for a bit longer,” read the note. The question is how long is “a bit longer”?

Source: OPEC

In its most recent Oil Monthly...


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