Thursday, November 12, 2015

Oil Ground and Pound: Round 'N'

"Glut in developed economies exceeds level of 2009 crisis"

"Stockpiles in developed economies are 210 million barrels higher than their five-year average, exceeding the glut that accumulated in early 2009 after the financial crisis"

"The current excess is bigger than the surplus of 180 million barrels to the five-year seasonal average that developed in the first quarter of 2009, according to the report. The 2009 glut was the only other occasion in the past 10 years when the glut has topped 150 million barrels"