(Bloomberg Opinion) — Oil’s recovery is being hit from both sides. Benchmark Brent crude prices have risen by 128% from their April low, remaining above $40 a barrel since the middle of June. But rising supply and faltering demand bode ill for those who want oil prices to keep climbing.The OPEC+ group of oil producers, who have implemented unprecedented output cuts since May, will soon begin to relax their restraint, adding more crude to a market that is also seeing the first signs of recovery in North American production.The group of 23 oil producing countries, led by Saudi Arabia and …read more
Source:: Yahoo Finance
