Behind the increase in the price is a sign of reduced oil supply and a recovery of growth globally.
the American oil companies cut down on the number of oil rigs for the eleventh week in row last week, which reduced the number of rigs to the lowest level since december 2009.
Analysts warn, however, investors to expect any sustained sharp rise in prices for oil, then the underlying global oversupply persists, with overflowing oil stocks.
“We are concerned that the lifting of the oil shares many characteristics with the false oil rally in the second quarter of 2015,” the investment bank Morgan Stanley.
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