Oil prices are set for a slide back into the mid to high $50s this year as swelling supplies collide with sluggish global growth, according to analysts at Morgan Stanley.
Oil slides as markets eye Venezuelan supply comeback
Oil prices extended their decline after the removal of Nicolas Maduro opened the door for Venezuela to revive its battered crude industry and potentially bring more supply onto global markets.
Venezuela Oil Industry Revival Could Take Decades Despite US Intervention
The Venezuelan oil sector has languished for years under the weight of chronic underinvestment, deteriorating infrastructure and endemic corruption. Following recent military action in Caracas that resulted in the detention