Current Oil Update, Oil Update
- Oil Market Update
02/23/15 The oil market is one of the most interesting in the world and certainly one of the most important. Right now there are two major opposing forces determining the supply/demand balance. One is the massive glut resulting from increased production and oversupply, exacerbated by deflationary depression in various markets, and the other is the elimination or partial elimination of supply from countries like Iraq and Libya whose economies have been wrecked by war and an ensuing state of anarchy, a problem that could get worse with the Islamic State on the rampage in the Mid-East and N Africa.
Posted at 4.00 pm EST on 23rd February 15.