Oil prices continue to plumb new depths, but some analysts think the selloff has gone too far. Brent prices fell to $62 per barrel by mid-week, hitting nearly a one-year low. The bearish narrative has taken hold in a big way, with rising U.S. shale production , record output from Saudi Arabia, rising inventories and faltering demand growth all combining to drag down crude prices. “The bears still have the oil market firmly in their grip,” Commerzbank said in a note on Thursday. “No end to the downswing is in sight for the foreseeable future.” But are prices dropping too far, too fast? Some analyst think so. “[T]he oil market sell-off has overshot current and forward fundamentals,” Goldman Sachs wrote in a note on November 20. Goldman Sachs believes that the most recent selloff, which saw Brent drop below $60, came with “no new fundamental data,” suggesting that the […]