Blue sky in the oil patch

ACCORDING to the latest Baker Hughes survey, there were 23 fewer drilling rigs seeking oil and gas in the US this week compared with last week, which is the first clue in Slugcatcher's hunt for signs that the oil price has bottomed and that the next move should be up.

The second clue is contained in thoughtful observations about why the oil price will rise from next year by Russian-born commentator Leonid Bershidsky, who notes that oil demand might be declining in

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