Is The New Oil Order Still Too Sweet?

Last week, WTI crude oil priced fell to new multi-year lows in the aftermath of the OPEC meeting in which the organization decided to maintain its strategy of flooding global markets with crude oil. In the wake of OPEC’s decision, Goldman Sachs analyst Damien Courvalin now believes that the global oversupply of oil will not begin to subside until Q4 of 2016.

Oil Short Reloaded

According to Courvalin, the most recent plunge in oil prices was partially driven by the market’s relatively bullish positioning on oil prior to the OPEC meeting. Hopes of a change in tone from the organization, however, were quickly dashed, and the flood of short selling in the market pushed crude prices to new lows.

“Although prices are now below our 3-mo $38/bbl WTI forecast, we still see high risks that prices may decline further, as storage continues to fill,” Courvalin explains.

Low Prices Are Ultimate Solution

In terms of the long-term outlook for oil prices, today’s low prices will ultimately bring…

Click here to continue reading

Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common SenseI don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and is always available on your local internet!