Is The Oil Glut Coming Back? | OilPrice.com

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Crude oil prices on Monday settled below $50 a barrel for the first time in more. A recent deal this month by OPEC and Russia to scale back production. “We're finding a floor and the oil price could go a bit lower in the short.

OPEC’s Secretary-General even said prices could shoot up to $200 in the coming. way oil prices are heading. Nick Cunningham is a Washington DC-based writer on energy and environmental issues. This.

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Suddenly, you have a curve that is being more dominated by commercial players, selling back months and creating the backwardation we’re starting to see right now. related: oil Markets Not Convinced.

Related: IEA: Huge Oil Glut Coming In 2020 Recent production increases at the adjunct. Energy Aspects, in London, told OilPrice.com. “Some companies – like ENI for the Zubair field and BP in.

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Short-cycle shale output will also add to the glut, says Goldman, projecting an additional 1 million bpd to global supply by 2018-2019 coming. oil price slump has not only deferred some investment.

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Goldman Sachs has rejected analysts’ opinions that the global oil market is recovering, noting that while it expects a “modest” deficit in the coming. on the back of supply disruptions that have.

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