Asia Unhedged | Oil down again as soaring US supply threatens to overwhelm OPEC cuts
Source: Bloomberg
Source: Bloomberg
Asia UnhedgedReal-time intel on what moves markets

Oil down again as soaring US supply threatens to overwhelm OPEC cuts

American supply continues to stymie OPEC’s best efforts to hold oil prices up by reducing production

April 22, 2017 1:48 AM (UTC+8)

Oil prices fell again today, to $49.35 for WTI from $53.45 on April 11, as the count of US operating rigs continued to rise.

Booming American supply threatens to overwhelm OPEC’s ability to hold oil prices up by reducing production.

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