Crude oil market still under pressure...
​The volatility in the crude oil market continues to be elevated, as the imbalance between demand and supply persists, having a direct impact on crude oil prices that are down by 45% year over year and 70% since mid- 2014. Crude oil prices are expected to be erratic for some time, as crude market fundamentals are likely to remain soft, and the environment of excess supply to persist, in the midst of a deceleration in global growth and thus a further weakening in demand.
The crude oil market is not projected to find an equilibrium anytime soon, despite the recent agreement between Saudi Arabia and Russia to freeze oil production at January levels...
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