Supply Correction Will Support Oil Price in 2015

As the year draws to a close, if you chose an assessment point for the Brent front month futures contract price in June and squared it against the current price in December, chances are you’ll record an oil price decline of around a whopping 46% over the period. Yet, as I have been insisting for the past six months, the drop should be described as a ‘supply driven correction’ not a ‘slump’ or a ‘crash’ as some love to call it.
Source: Markets