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Oil rebalancing ends

June 19, 2017 - 10:49 -- Admin

Oil bull Morgan Stanley capitulates today: The return of oil inventories to five-year average levels was characterised this week by the IEA as “the currency used to express re-balancing”. We still expect some draws in 2Q/3Q but on our estimates, a return to five-year average stock levels remains elusive for some time to come. The

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