Weekly Fundamentals - US Oil Output may Disrupt Improvements in Demand/Supply Fundamentals

WTI crude oil prices fell for 5 consecutive days last week, breaking below US$50/bbl last Thursday for the first time since OPEC/ non-OPEC announced to cut output last December. the key reason for the selloff was concerns over US supply. Besides the latest weekly US crude oil inventory data rising to a fresh record high, the EIA has recently revised higher its US production forecast for 2017 and 2019.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/weekly-fundamentals-us-oil-output-may-disrupt-improvements-in-demandsupply-fundamentals-2017031234365/