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Oil Supply Disruptions Quickly Fading As Canada, Libya, And Nigeria Resume Production

Oil Supply Disruptions Quickly Fading As Canada, Libya, And Nigeria Resume Production

Earlier this week, Goldman unleashed the latest oil rally when it admitted that while the oil market will take far longer to rebalance due to rising low-cost oil production, it said that material supply disruptions are providing a boost to near-term prices. Goldman provided the following visualization of unplanned ongoing outages ...

 

... where it highlighted the recent stoppages in Canada, Nigeria and Libya as the most prominent.

Futures Rise As Fed Fears Subside; Global Stocks Rebound From Six Week Lows

Futures Rise As Fed Fears Subside; Global Stocks Rebound From Six Week Lows

It will be fitting, not to mention symmetric, if stocks which yesterday closed at 7 weeks lows and red for the year, end the week the same way they started it: with a rally on no news, just more hopes that oil (which as recently as two years ago none other than Chair Yellen said said would be be "unambiguously good" if lower) will continue rising.

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