Probability of Epic Oil Market Shakeout Increases

posted in: Charts, crude oil, Energy | 0

Goldman Sachs essentially stating that the oil market might be headed for an epic shakeout over the next couple of months:

Oil_Market_GS

To make matters worse an additional ~600,000 barrels per day of production could come online over the next couple of months as Iranian sanctions are lifted:

 

Iranian_Volumes