Oil legend Andy Hall sees scope for OPEC-fueled crude recovery in future

When you know you've got prices in 2020 and beyond for WTI down below $60 a barrel, almost down to the mid-$50s further along the curve, I think that is essentially at the bottom : Andy Hall

Oil may be poised for a recovery and OPEC will probably reimpose supply cuts in the next month or two as inventories in the producer group have swelled, according to legendary trader Andy Hall.

Stockpiles have increased sharply in the Organization of Petroleum Exporting Countries, developed nations in Europe and in the US over the last several months, Hall said, citing data from Orbital Insight Inc., which uses satellite imagery to track global supply levels and on whose advisory board he sits.

“The balance of risk at this point favors some sort of recovery,” the trader once known as ‘God’ in the