Is the Market Sleepwalking Into a Global Oil Shortage?

With oil trading just above multi-year lows - despite mounting speculation of peak shale - pessimism on oil prices has never been greater, and earlier this week sentiment hit rock bottom after WTI managed money spec positions hit a record low, the clearest sign yet of what speculators think of the future of oil. And yet, this may prove to be one of the biggest conventional wisdom blunders yet because according to the International Energy Agency, the world needs to spend some $540 billion a year looking for oil and gas to maintain…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com