WTI Crude Crashes To “2” Handle After EIA Cuts Demand, Increases Production Forecast
by Tyler Durden
ZeroHedge.com
01/12/2016
In yet another hit for the energy complex, EIA just cut their global oil demand forecast to 95.19 million barrels a day this year (down from 95.22 million in December’s outlook). The energy agency also increased its forecast for global production to 95.93 million barrels a day (up from 95.79 million last month). This pressured WTI Crude back off a brief bounce and pushed it to a “2” handle at $29.97 for the first time since December 2003.
The Rest…HERE
