‘Crude at $130-$140 a barrel is as unsustainable as crude at $20-$30’. Oil bulls finished September with their worst month and quarter in two years, Barani Krishnan, a senior commodities analyst at uk.Investing.com highlighted in a statement sent to Rigzone recently. Krishnan, who outlined that the development might be a shock to longs in the trade, said short-sellers have expected such a correction for months, “given the energy rally’s tendency to often overshoot fundamentals”. “A loss of around 10 percent on the month and nearly 25 percent for the quarter is indeed surprising for oil bulls, but crude at $130-$140 a barrel is as unsustainable as crude at $20-$30,” Krishnan said. “As producers and consumers try to find a middle ground, it appears that $70-$80, which is not far from current levels, might work. OPEC+, having experienced north of $100 for about six months, could announce production cuts from […]