PrimeXBT Analysis: Why The Oil Outlook Is “Worsening” For Year-End

While more profitable opportunities in 2020 were focused around Bitcoin, stock indices, and precious metals, that didn’t stop oil trading from stealing the show earlier this year as the world watched in awe as prices had a catastrophic collapse that made Black Thursday look more like a light shade of grey. After the fallout, oil prices have remained “relatively flat,” but the outlook is now “worsening,” according to PrimeXBT lead analyst Kim Chua. Chua also reveals that oil is among the worst-performing assets of Q3, closing out September with a 10% fall, and what a further negative year-end looks likely.