Oil Will Head Lower Soon, Says Alvine’s Isaacs

OPEC’s strategy to defend market share over prices is working as oil approaches $50 a barrel amid rising demand and declining output from producers including U.S. shale companies, Kuwait’s acting oil minister said. Oil will end the year at $50 a barrel and the market will rebalance in the third or fourth quarter of the year, Anas Al-Saleh, the acting oil minister, said in an interview Wednesday in Kuwait City. Alvine Capital Management Chairman of the Investment Committee Stephen Isaacs discusses oil with Bloomberg’s Anna Edwards on “Countdown.”

http://www.bloomberg.com/news/videos/2016-05-19/oil-will-head-lower-soon-says-alvine-s-isaacs