Quarterly Energy Comment (March 13, 2018)

by Bill O’Grady

The Market
Over the past quarter, oil prices have ranged from a low of around $56 to a high of $66 per barrel.

(Source: Barchart.com)

Prices remain elevated, supported by OPEC production discipline and solid global oil demand.

Prices and Inventories
Inventory levels remain elevated but have clearly declined from last year’s peak.

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