Here’s Why Oil Prices Will Likely Stay Around $50 Per Barrel Indefinitely

NYSE:USO January 11, 2017 6:31am

Image of an oil derrick with blue sky
From Art Berman: An OPEC production cut offers oil producers hope for higher prices in 2017. But there is a dark cloud hanging over that expectation. Global storage inventories must be substantially reduced before higher oil prices can be sustained. Some of U.S. tight oil has nowhere to go but into storage because it can neither be refined nor exported.

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