Market Insights

June 13, 2016 • Posted in Market Insights

Week of June 6, 2016

 

  • Brent crude bumped up slightly last week while WTI dropped slightly on news of the first increase in the US rig count in 11 weeks
  • The increase in the rig count shows that some US oil producers have the flexibility and financial resources to opportunistically adjust production in response to price increases
  • OPEC’s June meeting ended with little impact as Saudi Arabia remains committed to allowing market forces to set oil prices
  • Prices are expected to stay close to $50/bbl for the balance of 2016

 

WTI Crude Oil & Brent Crude Oil 06062016

 

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