Oil: Will Rising U.S. Output Stifle Post-OPEC Gains?

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Oil: Will Rising U.S. Output Stifle Post-OPEC Gains?

By Erik Norland, Senior Economist, CME Group

Highlights:

  • U.S. oil output has been rising since July 2016
  • Investment in U.S. oil sector rebounding quickly
  • Resurgent oil market faces a key test at $55/barrel
  • High U.S. inventories a hurdle to long-term bull market