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This article was written by Idan Levitov, head analyst for anyoption.com.
Following a disappointing conclusion to the Doha talks, OPEC oil production took another leap higher back in April, climbing to the highest level in years as cartel members remain in disagreement over a proposed production freeze. While the policy of raising production to force out marginal producers is starting to show success, it is not clear whether the strategy will produce strong results over the longer-term.
Shale producers are indeed struggling to keep their doors open as evidenced by the recent downtick in US oil production. ... (read more)