Oil crash intensifies, where does it end?

Thursday, 22 June 2017

The oil crash is intensifying:

It appears markets have finally come around to my view that there is no shortage at all. Libyan oil is poised to cross over 1mb/d and US shale is piling it on:

Thus, markets are now seeking the US shale off switch by pushing energy bond yields higher:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.