The Oil Price Rally Is Gaining Serious Momentum
Alex Kimani - OilPrice
August 01, 2023
Who was cited:
James Davis, Director of Short-Term Global Oil Service & Head of Upstream Oil - FGE
The oil markets were slow to react to obviously bullish catalysts such as supply cuts, falling inventories and growing demand when they first kicked in about three months ago. Indeed, it appeared that the bears were about to overrun the markets, with bearish positioning in the oil futures markets recently sinking to the extremes they last did during the 2009 financial crisis.