Fundamentals Point Toward Oil-Market Balance: IEA Too Pessimistic

Fundamentals point toward market balance but pessimism is dragging oil prices down. IEA has apparently succumbed to this negativity but their data suggests that things are getting better, not worse. In a business-as-usual world in which nothing unusual happens, the world will be close to market balance some time in 2016. If anything unusual happens, all bets are off and oil prices could rebound much faster than anyone imagines. A Year of Extreme Price Cycles NYMEX WTI futures prices have fallen...