Despite Saudi and Russian Bluff, Oil Supply is Still Overwhelming Price
by John Galt October 10, 2016 19:45 ET Despite the recent recovery in oil prices back above $50 per bbl (Brent chart courtesy of NetDania): The problem however is that oil supply is not reflected by the price. The latest results from the International Energy Agency (IEA) through the 2nd quarter of this year shows little if any evidence of a draw down in supply: Then tonight this fascinating story tonight from the UK Express: Something very odd is being hidden in the middle of the Atlantic ocean and Gulf of…