Tortoise's Rob Thummel in the Wall Street Journal

Gloomy Economic Outlook Takes Toll on Oil Prices

Crude’s recent rally is short-lived as fears over demand and output weigh on the industry

Oil has erased essentially all of the rally that followed recent disruptions to Saudi Arabian output, underscoring how a darkening outlook for global growth continues to tamp down fuel prices.
While lower costs at the pump and a drop in heating bills could benefit consumers around the world, analysts say weak demand could herald a broad economic slowdown that would offset some of those benefits. The recent price slide is also the latest setback for global energy companies, many of which are trying to limit output to support both the price of crude and their flagging shares.
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