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The Rapid Slide in Oil Prices Won’t Last Much Longer

The rapid slide in oil prices over the last nine months won’t last much longer, but the rebound will be limited as reported by Sarah Kent in The Wall Street Journal.
The International Energy Agency reported on Tuesday the rebound would be limited and won’t feature prices at the height of the last three years.


This has resulted in spending cuts among the oil producers and a decline in the number of rigs drilling for crude oil.
It is expected by 2017 US shale oil to come back sharply causing a recovery in prices, potentially raising supply from 3.6 million barrels a day in 2014 to a projected 5.2 million barrels in 2020.

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