OPEC was much too optimistic on non-OPEC supply, it is reasonable to cut supply growth outside OPEC, given the recent developments in the U.S. rig count. Carsten Fritsch More Quotes by Carsten Fritsch More Quotes From Carsten Fritsch Brent could see further declines now, given the large overhang of speculative long positions. Carsten Fritsch energy Tomorrow we could see a recovery in expectation of another sharp drop in the rig count, the focus is again back on the oversupply -- the big question is for how long? Carsten Fritsch energy This is just a technical rebound after the massive drop in previous days, i don't think we are there yet, given the fundamental backdrop. Carsten Fritsch most-read-articles We would need an indication that Saudi Arabia is considering output cuts. Carsten Fritsch energy The weak demand increases the amount of supply that must be removed from the market. Carsten Fritsch most-read-articles Unless we see a huge drop in U.S. stocks ... it will be bearish. Carsten Fritsch most-read-articles We may see some technical bounces, but it is too soon to speak of a sustainable price recovery. Carsten Fritsch energy It was just a small increase, but nevertheless it was an increase despite the sharp price drop, given continued oversupply and still no sign yet that U.S. oil production starts to show any reaction, perhaps prices will continue to head lower. Carsten Fritsch energy
