The price rally that greeted the new year has fizzled out as renewed concerns about demand growth outweigh the tightening of oil supply through OPEC cuts and U.S. sanctions. U.S. production growth has stalled — for now — and President Donald Trump’s sanctions on oil flows from a second OPEC producer (Venezuela joins Iran on the naughty step) will cut supplies even further. The flow of OPEC crude to the U.S. fell to the lowest in five years in January, according to data from the cargo-tracking and intelligence company Kpler.
