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OPEC’s Crude Awakening

The oil bears are gaining leverage over the bulls as confidence in the stability of crude prices continues to wane. But to what degree can US production meet additional OPEC cuts and when will the market rebound?

US crude production set to recover

Cuts in crude oil production by OPEC – plus some from its allies – and the boost in oil prices are proving highly beneficial to producers in the US, who are now able to restore reductions in their output forced on them by last year’s low prices