Even If OPEC Gets Deal, It Risks Reviving Battered Oil Rivals
- Oil club seeking ‘Goldilocks’ price zone to keep U.S. in check
- U.S. oil producers slash average break-even price by a third
Lee: U.S. Shale 'Big Unknown' to Combat OPEC Deal
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Before a crucial meeting, OPEC’s deal to curb oil production and end years of global oversupply hangs in the balance. But even if ministers hash out a meaningful accord on Wednesday, there are dangers for the oil-exporter club.
For two years, OPEC tried to bury a growing army of upstart producers by flooding the markets with crude. Reversing course might hand a lifeline to the battered survivors like Premier Oil Plc who are rushing to reap the rewards.