Oil prices to face selling pressure

The recent oil price rally doesn’t seem to have legs as prices came under pressure on stronger dollar and growing stockpile.

Oil prices have been hovering around the US$65 (RM235) level since beginning of the month but a 3% slip on Tuesday caused jitters among investors.

The worry is not baseless.

There is no indication that the 12-member Organisation of the Petroleum Exporting Countries will be cutting down on production in a June meeting while shale producers continue to improve efficiency.

That is despite rig count falling for close to half a year in North America.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my