How Long Will the Oil Price Rally Last? ...Middle East

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How Long Will the Oil Price Rally Last?
source : OILPRICE ( Middle East ) () 38
It’s been a wild week for oil prices. First soaring on news of the biggest U.S. inventory draw in years, benchmarks later slumped just as sharply when Fitch downgraded the United States’ credit rating from AAA to AA+. Barely a day later, prices rebounded again after Saudi Arabia did what pretty much everyone expected, extending its voluntary production cuts of 1 million barrels daily into September. Where prices go from here is anyone’s guess, but analysts are saying the rally won’t last. That appears…

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