31 May $50 oil price may be magic number for market balance

By hellenicshippingnews.. OPEC decided last week to extend its crude production-cut agreement because global supply hasn’t yet fallen back to its five-year average, but long-term prices at $50 a barrel may be just what the markets need to help bring back balance to the oil market. Analysts at Goldman Sachs said they “believe a $50/bbl price signal—either … Read full story ›

Source:: Hellenic shipping news Oil