May 29, 2017

THANKS, UR!:

Oil slips as more U.S. drilling outweighs OPEC-led cuts (Libby George, 5/29/17, Reuters)

Oil prices slipped on Monday as further increases in U.S. drilling activity undercut an OPEC-led push to tighten supply. [...]

OPEC's success in drawing down inventories may hinge on output in the United States, which is not participating in the cuts. U.S. production has soared 10 percent since mid-2016 to more than 9.3 million bpd, close to top producer levels Russia and Saudi Arabia.

Posted by at May 29, 2017 7:10 AM

  

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