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Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020
Posted by BFP Staff on May 23, 2017 at 11:55 AM
Are the Saudis going to maintain these production cuts forever?
By Haley Zaremba for Oilprice.com
As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated market will reach an equilibrium with higher commodity prices by 2018 and U.S. shale production will continue to grow along with global demand.
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