While the Oil Market is Still a Mess, it is Starting to Clean up its Act
It has been a tough slog for the oil market this year as it has attempted to recover from one of its worst downturn in decades. Thanks to a combination of improving well productivity and some old-fashioned greed, supplies remain elevated, which has kept a lid on prices.
That said, according to the latest market report from the International Energy Agency, there is some good news from the most recent data. Because of that, the underlying fundamentals of the oil market seem to be improving, which is a positive for investors, though it will likely remain a slow grind for the foreseeable future.
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Source: Fool.com