Week of March 28, 2016
- Oil hovered around the $40/bbl mark last week. News that OPEC and non-OPEC members (notably Russia) are meeting on April 17 to discuss production cuts was offset by news of growing inventories and refinery production cuts in the U.S.
- FORBES magazine published an interesting article suggesting that Saudi Arabia will keep prices at or below the $40/bbl level to prevent Russia and Iran from funding destabilizing groups that threaten its regime.
- Natural gas prices fell to $1.80 per MMBtu NYMEX mid week and are expected to remain bearish due to weak heating demand and high inventories.