The Oil Glut

For a while there, it looked like crude oil prices might tick upward. But now I see comments like this

With the world’s top three oil producers – Saudi Arabia, the US, and Russia – pumping at record levels and with OPEC producing above target, miracles would have to happen on the demand side to bring this into balance.

China? Forget it. China is in slowdown mode.Not only that, but an accord with iran may bring a lot more oil into the global market.

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