HomeMagazine2016March 2016, Vol. 243, No. 3$50 Oil As Soon As May?

March 2016, Vol. 243, No. 3

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$50 Oil As Soon As May?

After staging a 50 percent rally between February and March, oil prices have bounced around, moving up or down on a given day depending on the news cycle. The persistent glut and rising storage levels weigh on crude prices, but falling production levels provide some reason for optimism. On March 29, Federal Reserve Chair Janet Yellen struck a dovish note on interest rates, buoying stock markets around the world and sparking a rally in oil prices. Most market analysts expect the crude oil markets to come into balance in 2016, with an eye on the second half of the year. One of the big unknowns is the pace of global oil demand growth. The slowing economy in China, in particular, has contribut

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