Reports on crude See all

Crude oil cars sitting on tracks in British Colombia

Too much oil?

Oil prices were supposed to stabilize in 2017, but instead they dropped by about 20 percent. The reason appears to be more technological progress in the shale industry and the ineffectiveness of OPEC’s production cuts. In response, the oil cartel may decide to reverse its strategy and punish high-cost competitors by increasing supply – sending prices even lower.

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