Falling Oil Prices Could Upend The OPEC Deal

By Gregory Brew A bearish report from the EIA, particularly the inventory data and an output forecast which predicts U.S. production rising to a level not seen since 1970, sent WTI prices plunging this week: between Wednesday and Friday, the price of oil fell 8 percent and dipped below $50 for the first time since December. That the sudden fall came amidst the industry convention CERAWeek 2017 in Houston, where representatives and spokesmen hobnobbed and prognosticated, may only have been a coincidence and certainly added to the week’s excitement. But the…

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