MARKETS: End-January Short-Covering Helps Markets Partly Recoup Loss, Prices Remain Weak on Continuing Glut

摘要

Short - covering on the last trading day of January helped the oil markets recover a wee bit of its recent massive losses, igniting hopes that this could stanch the selling pressure and spur a steady recovery in the coming weeks. It may still be too early for that, judging from comments made by oil executives in Saudi Arabia, the Organisation of Petroleum Exporting Countries (OPEC) and America’s shale - based companies who are in favour of letting market forces run their course.