Is There Any Good News for Oil Bulls?
January 13, 2016 at 10:27 AM EST
Crude oil prices are rapidly approaching $30 per barrel – a price that hasn’t been seen for well over a decade – as the market remains very bearish. With China’s economic slowdown reducing demand, OPEC maintaining supply, and the U.S. dollar trending higher, there were few reasons for bullishness in 2015, and the outlook for 2016 looks bleak. This bearish sentiment has spilled over into many energy companies, partnerships and funds operating in the space.