Forecast came false

Will WTI Dip Below $40 This Week?
11 august 2015

Will WTI hit or go below $40 anytime this week after falling 4% on Tuesday? Now at just under $43. 

Answered:
7 people

Will WTI Dip Below $40 This Week?

Agreed
4 people
Disagreed
3 people

Forecast came false

The 1.7 million drawdown in American oil inventories and the relatively mild increase in operated oil rigs in the US [up by two this week] helped keep WTI above $40, as did reports calling for US oil output to slip through mid-2016 and for oil demand to come in stronger than expected this year [IEA increased oil demand growth forecast from 1.4 million bo/d in 2015 to 1.6 million bo/d].