Hedge Funds Bet Against A Smooth Oil Market Recovery

The sluggish global oil demand recovery is putting off the point of oil market rebalancing and adding downward pressure on oil prices.  At the end of the first half of 2020 in June, many analysts and experts predicted that the global oil supply-demand balance would be in a sharp supply deficit in the third and fourth quarters this year.   While there have been inventory drawdowns in recent weeks, including in the world’s most visible market, the United States, demand has failed to recover as much as analysts had predicted two…