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U.S. Shale Is Immune To An Oil Price Crash In 2017
Posted by BFP Staff on May 17, 2017 at 12:37 PM
Last month, oil prices were seen dropping to US$40 or lower
By Tsvetana Paraskova for Oilprice.com
Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement.
Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S. output.
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