Crude Concerns
11/14/2018 |
With oil prices down 25% due to rapidly rising supply, slowing world growth, and more waivers than expected for Iranian oil purchases by nations such as China and India, OPEC has two unpleasant choices. Cut production to keep prices up but inevitably lose market share to US frackers, or keep production steady, protect its market share, and really hope US shale production at least temporarily plateaus due to lower prices.