Oil inventorydatareleasedthis weekshowedU. S. commercialcrudesuppliesremainneartheir highestlevels in several decades, as the U. S. shaleboom continues to driverecord production.
This sunny forecast is largely based on an expected decline in crudeoil prices combined with higher gasoline inventory levels and a continuing drop in demand due to increased small-car sales and other factors.
However, investors should also keep in mind that despite the rise in demand, prices for crudeoil in the forth quarter have remained in line with the previous nine months, possibly a result of inventory stockpiles.