The U.S. oil and gas sector has kicked off the new year on the backfoot with market sentiment as bearish as it was a year ago. Commodity analysts at Standard Chartered have reported that demand pessimism is once again dominating, with traders worried that oil demand will weaken in the U.S. and Europe.
Part of Wall Street is just as bearish, with analysts warning of a challenging risk/reward scenario for the sector in the near-term with a heightened risk of a mild recession approaching. Despite the bearishness, investors are still betting…Offshore Oil Is Booming With Vessel Markets Near All-Time High
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