Bulls beware – the 2020 oil market is quickly turning ugly


  • Business Premium
  • Monday, 10 Jun 2019

Scomi Group Bhd surprised investors when it proposed to revise its current issued share capital reduction from RM224.96mil to RM3mil from the earlier RM40mil.

LONDON: Oil bulls thought 2020 would be their year.

After half a decade of lower spending on new projects, oil production growth was supposed to slow to a trickle just as demand was supercharged by a once-in-a-generation shake up in the shipping fuel market. Many market commentators predicted that if US$100 a barrel-oil was going to make a come back, it would happen in 2020.

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