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OPEC losing its grip on crude?

Published 05/05/2017, 05:34 AM
© Reuters.  OPEC losing its grip on crude?
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  • Following a sharp selloff on Thursday amid fears of oversupply, the price of WTI dropped into the $43 handle before finding a floor during Asian trade.
  • U.S. production levels are now not far off top producers Russia and Saudi Arabia.
  • Tumbling prices would likely force OPEC members to extend production cuts later this month, according to analysts, but the prospect of deeper cuts appear slim.
  • Oil futures are currently flat at $45.52/bbl.
  • Previously: Energy stocks slump as oil prices plunge (May. 04 2017)
  • ETFs: USO, OIL, UCO, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, DWT, OILK, OILX, USOI, UWT, WTID, WTIU
  • Now read: Crude Oil Breaks Key Support


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