# Oil slump could get much worse amid oversupply concerns, analysts say

> Analysts expect oil prices to fall further over the coming weeks as swelling inventories and forecasts of record U.S. and Russian output build. Brent dropped as low as $57.20 a barrel on Tuesday before trimming losses. Concerns about a possible economic slowdown in 2019 added downward pressure.

- Date: 2018-12-18 · published 2018-12-18T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/8518-oil-slump-could-get-much-worse-amid-oversupply-concerns-analysts-say
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Analyst expectations of continued weakness reinforce bearish crude sentiment, which lowers fuel and freight costs for feed buyers. Persistent oil weakness also reduces the appeal of biofuel feedstocks.

## Read by commodity

- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-12-20 | 5 | -10.5% | -3.0 | Analyst bearish outlook on swelling inventories and record output reinforced downward momentum and sentiment. |
| BRENT | 2018-12-24 | 5 | -12.6% | -3.8 | Analyst expectations of further declines from swelling inventories and recession worries reinforced bearish sentiment. |

## Sources

- cnbc.com: https://www.cnbc.com/2018/12/18/oil-slump-could-get-much-worse-amid-oversupply-concerns-analysts-say.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.