Oil hits longest losing streak since 1986!

Oil hits longest losing streak since 1986!

Oil hits longest losing streak since 1986! The decline in oil prices has been continuing for 8 weeks and Reuters reports that it’s the longest losing streak since 1986. Brent and WTI are both at near 6.5 year lows and some analysts believe that a $20 barrel is possible. US refineries are processing more oil and production is easing slightly but the global supply glut will only get worse as China’s demand continues to wane.