By Royston Wild: The Motley Fool: Friday, 2 September, 2016
Investor appetite for the oil segment has taken a knock in recent weeks as fears of a prolonged supply glut have weighed.
British majors Royal Dutch Shell(LSE: RDSB) and BP(LSE: BP) have seen their share prices slip 10% and 7% respectively during the past six weeks, for example. And I believe a sharper retracement could be just around the corner.
Stocks keep surging
Broker predictions that the oil market is set to balance later this year are being put under increased scrutiny as already-plentiful stockpiles continue to build.