Oil Will Head Lower Soon, Says Alvine’s Isaacs

OPEC’s strategy to defend market share over prices is working as oil approaches $50 a barrel amid rising demand and declining output from producers including U.S. shale companies, Kuwait’s acting oil minister said. Oil will end the year at $50 a barrel and the market will rebalance in the third or fourth quarter of the year, Anas Al-Saleh, the acting oil minister, said in an interview Wednesday in Kuwait City. Alvine Capital Management Chairman of the Investment Committee Stephen Isaacs discusses oil with Bloomberg’s Anna Edwards on “Countdown.”