Quote:
Originally Posted by heep223
There most certainly is a change in fundamentals. Non-OPEC production isn't just slowing - it's now showing a persistent declining trend and it's just the beginning. You now have major U.S. producers forecasting double digit production declines for the year 2016.
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And when opec gets to a price point they're happy with ( say $60/barrel ) what's stopping shale production from restarting? The majority of opec countries need oil at over $100/barrel to balance their books. The market game opec's playing makes no sense.