Addax Petroleum (fka AXC)

[Julius Erving]

Oil Seen Surging About 50% by Fourth Quarter as Supply Eases

2/3/2016

"There are signs supply and demand will start to come back into balance this year, OPEC Secretary-General Abdalla El-Badri said Jan. 25 at a conference in London. Global demand is forecast to increase by about 1.3 million barrels a day while supply from outside the producer group is expected to contract by about 660,000 a day, he said.

Iraq, the second-biggest producer in OPEC, and Pierre Andurand, the founder of the $615 million Andurand Capital Management, predict oil may rise to $50 a barrel, while the United Arab Emirates sees the glut shrinking, even after Iran boosts exports."

http://www.msn.com/en-us/money/markets/oil-seen-surging-about-50percent-by-fourth-quarter-as-supply-eases/ar-BBp2Pg7?ocid=spartandhp

The Doc.