Julius Baer: Oil supply shifting from shortage to surplus

20 July 2018 | 1 minute read

As fears of shortages recede and oversupply concerns grow, oil prices have been trending down, with the WTI crude oil price dropping from 74.11 to 69.70 over the past 10 days. “Last week’s slide was triggered by recovering Libyan exports and prices were down another 4.6% yesterday on signs that Saudi Arabia was supplying more oil to the market than…

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