A contrarian view on oil…

by Jim Colburn • Friday, May 12, 2017

In an otherwise bullish article from Bloomberg, “For Some, There’s Never Been a Better Time to Buy Oil“, there is this one opposite view:

“There’s little chance of OPEC cutting any deeper than they have already and demand growth this year will be lower than the IEA forecasts, said Fareed Mohamedi, chief economist of The Rapidan Group, a consultant based in Bethesda, Maryland. Prices could drop back as low as $30 a barrel by the first quarter of 2018, he said.”

 

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