The fundamental backdrop of the oil market
The fundamental backdrop of the oil market: Tyler Richey Quoted in Morningstar
Oil prices end higher on surprise fall in U.S. crude supply, rise in gasoline demand
“The fundamental backdrop of the oil market has become less bearish this week, but it would be a stretch to say that market dynamics are beginning to favor the bulls on any time horizon beyond a few days,” said Tyler Richey, co-editor at Sevens Report Research.
“Concerns about a surplus emerging in the global oil market have been dialed back given the improving consumer-demand figures in [Wednesday’s] EIA report and news that OPEC+ leadership is considering postponing output cuts currently planned for December,” he told MarketWatch.
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