WTI was trading up 2.33% (+$1.44) at $63.17 at 1:51pm EST. The Brent benchmark was trading up 1.76% (+$1.19) at $68.97. Still analysts are cautious of its long-term prospects as US shale is expected to continue to eat away at OPEC’s production cut efforts as prices rise, although that caution appears to be weakening somewhat as prices continue to hold.
https://oilprice.com/Latest-Energy-...er-API-Reports-Staggering-Crude-Oil-Draw.html
In time they will be compelled to come around to my way of thinking.
$50-60 New Normal or U.S Shale Bubble?, page-722
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$7.02 |
Change
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