Crude Drawdowns Can’t Save Oil Prices

Oil prices fell below $50 this week as rising U.S. oil output and increasing Libyan exports led to a more bearish sentiment in oil markets. (Click to enlarge) (Click to enlarge) (Click to enlarge)  (Click to enlarge)  (Click to enlarge)  (Click to enlarge) (Click to enlarge) Friday, April 28, 2017 Oil prices got walloped this week on growing concerns that U.S. shale is coming back too quickly, offsetting the progress made by OPEC. Meanwhile, disrupted Libyan production could come back online, taking one of the few reasons to be bullish…

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