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Here in Singapore, things influencing the oil world continue to make themselves clearer.
Recently, the oil market has been slammed with a tidal wave of volatility, and back a few weeks ago we had the largest drop in oil prices since 2015.
However, since I've been attending meetings here at OSEA 2018 in Singapore, one signal that the implosion in oil prices is nearing its end has surfaced.
In each of the last several downward cycles in the price of both daily pegged benchmarks (West Texas Intermediate in New York and Brent in London), a divergence has emerged prior to the recovery of pricking levels.
That divergence has begun over the past few trading sessions.
It amounts to a recovery in the market prices of crude oil and natural gas production companies while the underlying price of oil continues to move downward, and it has already become a topic of conversation here in Singapore.
From the floor, the issue even made its way into my plenary address before the OSEA 2018 conference.
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