Oil rebounds from earlier losses
Trade optimism and reverberations from the OPEC+ production cuts have sparked a renewed bid in oil today.
WTI crude is up 22 cents to $59.24 after falling as low as $58.24.
It's not a big move, but every hour and day above the November highs is another reason to expect a retest of the Saudi-attack highs.
We get the EIA short-term energy outlook today and that could include some bullish hints. The current forecast is for aver US oil and petroleum exports of 750K bpd in 2020 along with lower oil prices in 2020.
