Mixed Signals For Oil Prices [Forbes]
Phillips 66 (PSX)
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Source: Forbes
Mixed Signals For Oil Prices A pickup truck passes in front signage outside a Phillips 66 gas station at night in Princeton, Illinois, U.S., on Wednesday, Feb. 6, 2019. Phillips 66 is scheduled to release earnings figures on February 8. Photographer: Daniel Acker/Bloomberg © 2019 Bloomberg Finance LP Portfolio managers’ overall bullish position is up nearly 100 million barrels two monthly outlooks Here are 4 reasons to be bullish on oil. Rising Demand. forecast 1.4 million b/d Annual Outlook 2019 Saudi and Russian Cuts. Libya, Iran, and Venezuela. Sulfur Requirement. Bloomberg reports Crude oil prices have been rising in recent days. Data source: EIA; CME Group And in the other direction, here are 3 reasons to be bearish on oil. Slowing Economic Growth. surveyed Rising Dollar. snapping back safe-haven Surging U.S. Crude Oil Production. From Jan 2018 to Dec 2020, U.S. crude oil production is expected to rise an astounding 36%. Data source: EIA; JTC Gallery: 2018 Forbes 30 in 31 im
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