OPEC's efforts to balance crude oil stocks are not enough, as we approach Brent levels of 50$/b. Production cuts are countered by an ever-rising production of American output (shale oil) with 15 straight weeks of increasing rig count according to Baker Hughes. Though many OPEC members have already achieved compliance on the production-cut agreement, others see their [...]
Crude oil loses ground after a minor-than-expected fall in US stocks and a rise in gasoline stocks (Brent in 53$/bl values at this date). We reflecte the data delivered by the EIA in our infographic. You may access to the complete infographic clicking here.