Brent and WTI crude prices fell more than 6.4% to US$29.64 and US$29.57 a barrel respectively yesterday (25Jan2016) following a ~10% rise last Friday. Today’s price came up a little opening at US$29.79 but as usual, promising nothing out of the ordinary (Figure 1).
Figure 1: WTI Oil Price, 26-Jan-2016
No one expert knows exactly how much oil out there exceeds the global volumetric demand but all seem to agree that the entire world is drowning in it. T
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