Bears tighten grip on crude oil; can OPEC win the battle against US shale, renewables?

Bears tighten grip on crude oil; can OPEC win the battle against US shale, renewables?

Crude oil has entered a bear market even as the Organisation of Petroleum Exporting Countries has been trying its best to put a floor under the prices by curtailing supply.

Last month OPEC members had agreed to  extend production cuts of about 1.8 million barrels per day (bpd) until March 2018.

The move has not helped, and crude prices are now below the levels of November 2016 when OPEC members had first agreed on a production. Read More…

 

 

Credit By: Money Control

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