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Total Chief Executive Patrick Pouyanné said on Thursday, the oil price will likely be higher at the end of this year as an increase in demand will reduce the current production over-capacity. Mr. Pouyanné said it is impossible to guess the oil price in the short run. He added oil companies' investment cuts will eventually lead to a reduction of oil production.
In the U.S., the S&P 500 is down more than 10.5% so far this year. Month to date it’s down 5.8%. But it’s not the worst performing major index out there.
The dollar has been sent to levels not seen since October 2014 against the yen, and oil prices are under $27. These conditions leave many investors wondering when the bloodbath will end.