Supply Risks Could Push Oil Prices Higher This Week

Oil lost ground in the last few days on slipping OPEC
compliance rates and fears of persistent oversupply. But the
tightening of the oil market is still proceeding, and there are
some signs that the more pessimistic projections about oil prices
could be overblown. On Monday, as oil prices dipped, analysts
attributed the drop off to the appreciating U.S. dollar. But while
the immediate catalyst shifts from day-to-day, the forecast for the
next few quarters remains the same: the inventory overhang might
not go anywhere because the OPEC cuts are offset…

Oil lost ground in the last few days on slipping OPEC
compliance rates and fears of persistent oversupply. But the
tightening of the oil market is still proceeding, and there are
some signs that the more pessimistic projections about oil prices
could be overblown. On Monday, as oil prices dipped, analysts
attributed the drop off to the appreciating U.S. dollar. But while
the immediate catalyst shifts from day-to-day, the forecast for the
next few quarters remains the same: the inventory overhang might
not go anywhere because the OPEC cuts are offset…