Oil Supply Recovery Overestimated; CIBC’s Babin Sees Crude at $75-$80 by Year-End

Rebecca Babin, a senior equity trader at CIBC Private Wealth, said the oil market is overestimating how quickly production will recover, according to Bloomberg. Babin said she expects oil prices to settle between $75 and $80 a barrel by the end of the year. She made the comments on “Bloomberg Surveillance.”