Tuesday, 13 November 2018 09:15

Big Downturn in Oil Coming?

Written by
Rate this item
(0 votes)


Oil is in the middle of a fit. The commodity just recently entered a bear market and it is has been swinging up and down based on confusion over whether it will be over- or undersupplied in coming years. The market is plunging today as OPEC announced yesterday that it sees a slowdown in oil demand coming as well as oversupply. According to OPEC, “The recent downward revision to the global economic growth forecast and associated uncertainties confirms the emerging pressure on oil demand observed in recent months”.

FINSUM: The oil market seems to be trying to get ahead of a recession. OPEC’s demand forecast has slumped considerably, which in our opinion is one of the major drivers of the bear market.

Read 480 times

Contact Us



Subscribe to our daily newsletter

We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…