Recent volatility in oil price based on technical issues, questionable announcements and is ultimately, no reason to panic, analysts say. Coming off a turbulent week in which oil prices dropped below $40 per barrel for the first time since April, the Organization of the Petroleum Exporting Countries (OPEC) has declared a sideline meeting in Algeria next month. The price decline prompted some collective hand-wringing of bears around the world. To be sure, energy stocks have underperformed and oil prices have pulled back more than 20 percent from their 2016 highs, analysts at Raymond James and Associates wrote Aug. 8 in a note to investors. Consequently, a full “oil price panic” may be setting in, the analysts said. But the cause for panic is likely overstated. “In a nutshell, we believe that this is a very ‘normal’ technical price correction that is being validated and reinforced by pundits focusing only […]