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Published on Aug 12, 2016
An oil glut may have hit crude prices but hopes are rising for an upturn later this year, according to broker FinnCap.
The price of a barrel of Brent crude has tumbled from more than US$100 in late 2014 to just over US$44 now as Opec has failed to freeze production. Earlier this year it fell below US$30.
Finncap analyst Dougie Youngson blamed a market fixation with "a gasoline glut which came about for some unusual reasons".
But he added: "Really the data is showing supply and demand moving back into sync, so hopefully prices will be stronger in the second half."
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