EnergyWatch

Oil resurrection sets stage for another OPEC shale clash in 2018

Oil prices are set for a second annual gain after a year of natural disasters, conflict and a showdown between OPEC and US shale.

Oil's revival from the biggest crash in a generation persisted, with prices set for a second annual gain after weathering everything from hurricanes and Middle East conflict to the tussle between OPEC and US shale.

Benchmark futures are up more than 11 percent in 2017, after going into a bull market in September. While gains were driven by glut-shrinking output cuts by the  Organization of Petroleum Exporting Countries and its allies including Russia, geopolitical tensions in the Middle East as well as pipeline disruptions from the North Sea to Canada and Libya have also helped. In 2018, investors will watch if US output undermines OPEC's curbs.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Glencore books huge profit from gas crisis

The exorbitant natural gas prices have led several countries to reverse course on coal. This has served to benefit mining company Glencore, which, unlike competitors, has decided not to cut down on coal production.

Pelosi's Taiwan visit could impact Tesla's battery supplies

According to Bloomberg, the Chinese government has interfered with Chinese battery manufacturer CATL’s plans to build a factory in the US. A decision on where to build the factory has reportedly been postponed due to Nancy Pelosi’s visit to Taiwan. Updated.

Further reading

Related articles

Latest News

See all jobs