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A Wall Street Journal article says analysts expect oil to average below $60 a barrel for a third straight year as U.S. shale drillers ramp up output. It notes that OPEC faces a dilemma at its May meeting, since extending cuts could lift prices and invite more shale production, while scrapping them could revive the glut.
Rising U.S. shale output caps how far OPEC cuts can lift crude prices, which limits the upside for energy costs tied to feed production.
wsj.comGeorgi KantchevMay 1, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
