Oil price next year26 Nov 2020 09:07
Westbeck Capital said the oil market is heading for a perfect storm. Insider buying by oil executives has reached record levels. There could soon be a buying scramble to unwind hedge contracts - de facto short positions - setting off a feedback loop. China and India are rushing to acquire stocks while crude is still below $50. “All the stars are aligning for a powerful bull market,” it said.