Kaplan says oil still over-produced
Dallas Fed President Kaplan has talked about oil oversupply in the past and reiterated that more crude is being pumped than burned. He said there is a million bpd of extra production right now but also said that supply will fall through the remainder of the year and the market will come into balance in Q1.
Fed’s Kaplan: There is still 1 million extra barrels of oil produced daily
ByAdam Button
May 17, 2016