OEF Rapid Review
The price of oil could fall to $30 next year and stay at that level for about two years, according to Fereidun Fesharaki, chairman of consultants FGE. He said that the current level of cuts implemented by OPEC should keep the oil price around $50 a barrel for the remainder of 2017, but a failure to deepen these cuts would lower prices. Fesharaki stated that the key question was whether there was a limit to US Light Tight Oil production, or whether a boom in shale oil production in Argentina would occur.
LINK TO THE SOURCE ARTICLE:
Oil Could Drop To $30 In 2018 If OPEC Fails To Deepen Cuts
