Today’s Move In Oil Is A Real Sign Of Weakness

Tavi Costa Current Views

Today’s move in oil is a real sign of weakness.

It’s like Oct. 2008 when markets completely ignored OPEC’s 1.5mbd supply cut and prices continued to collapse.

Remember: in 2016, the 1.2mbd production cut sent oil prices up over 15% for the next 2 days. Not this time.