- "We have Russia sitting at an all-time high [production], Iraq at an all-time high, Saudi at an all-time high. And you put that together and it’s not a very positive picture,” says Goldman commodity analyst Jeff Currie, speaking at a conference.
- Currie and team earlier this week cut their medium and long-term price forecasts for crude, seeing $60 per barrel in 2017-18 (vs. $65 previously) and then just $50 by 2020.
- WTI crude is lower by 3.6% today to $58 per barrel, its lowest price of the month.
- ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, TWTI, OLEM