US oil market update

Investigative reporter Liam Denning (one of the good ones) discusses the outlook for the U.S. oil industry. He speaks on “Bloomberg Markets.” Here is a direct video link.

So long as there is still bullish belief and capital willing to pour into junk issues in the oil patch (as we have seen year to date), the cleansing of weak players and necessary production cutbacks are unlikely to have completed.

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