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IPFS News Link • Oil

Surging US Oil from Efficient Fracking Is Forcing More OPEC Cuts

•, brian wang

OPEC is trying to clear the oil markets of extra oil inventories and over-production.

There is weakening global economic growth and surging US oil supply.

Oil future prices dropped 11 percent last week. Brent crude traded below $54 a barrel which the lowest since September 2017.

US Oil production has the capability of increasing production by 4 million barrels per day over the next three years.

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