Crude Oil Price News and Forecast: WTI fell from around USD 58.59 to a low of USD 57.91
|WTI & Brent take a dive as Saudi Arabia threaten to boost oil production
It has been reported that Saudi Arabia are threatening to boost oil production unilaterally if some OPEC nations continue to defy the group’s output curbs, cartel officials say. (WSJ).
Leading into the OPEC meeting things were on the up as both API and DoE's produced a draw this week. There was also talk of not only extending the production cuts but making them deeper too.
U.S. Oil Prices Outlook. December 2019
2019 oil prices were in line with our baseline scenario. OPEC is discussing whether to extend its production quota. U.S oil production will expand further, albeit at a slower pace.
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