With oil on a serious slide over the past 5 weeks it’s important to also note that major oil countries can’t move the price with production cuts. Marc Chandler, editor of the Marc To Market website and Managing Partner at Bannockburn Global Forex provides his thoughts on the bigger picture of the oil market. Combined with recent data out of Europe and Japan the global growth narrative is failing.
Also please know that posting will be light today as I am attending the Columbian Gold Symposium.
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Click here to visit Marc’s website for more valuable reply comments on markets and economic data.