YGRN - Crude Oil Has Likely Not Bottomed

I wrote an article back on March 9, 2016, “Why Crude Oil Prices May Have Bottomed.” It was soon after oil prices had dropped to $26/b in February. As it turned out, oil prices had indeed bottomed.

I recently read an article, Crude Oil Has Bottomed. The thesis is that U.S. crude oil imports have dropped to low levels. That OPEC cuts are responsible. And, therefore, any recovery in U.S. refinery demand is sure to reduce U.S. crude inventories, which will in turn cause oil prices to rise. My analysis of this

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