Energy OverView December 3, 2014

Oil prices continue to fluctuate as buyers and sellers battle it out, as the market seeks to stabilize. The losses in the aftermath of the OPEC were exaggerated by the low holiday volume, and several dollars of losses were quickly recovered. Prices have resumed their mostly downward trajectory, due to weak economic data from China and Europe. In addition, a deal was struck between Iraq’s central government and the Kurdish regional government to allow oil exports from the country’s north. This will put an additional 500k bpd on the market over the next several months.