Oil is cheap but still not a bargain as risks loom over market outlook

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Oil is cheap but still not a bargain as risks loom over market outlook - Business Standard

Quick Summary:

Oil tends to recover from economic downturns relatively quickly as low prices hurt supply growth and propel demand.

For several years, the winning trade on geopolitical tension and oil sanctions has been selling the rally, but past performance doesn’t guarantee future results.

At that point during the pandemic, oil prices had declined so much that forward contracts for delivery two, three or five years later were a screaming buy.