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Commodities Briefing - Categorized | Market Moves, Oil more

What happens after the U.S. oil boom goes bust?

Posted on 18 November 2013

The Bakken crude oil formation spread out over North Dakota and Montana should give up more than 1 million barrels of oil per day next month. North Dakota is already the second-largest crude oil producer in the country behind Texas.
A string of reports out last week said oil production in states like North Dakota is putting a dent in OPEC’s market influence. A break from the grips of Middle East oil producers was put on the U.S. table 40 years ago and politicians and pundits alike are heralding recent developments as an energy revolution. What develops after the revolution is over, however, is something policymakers may have to consider in the not too distant future………………………………………..Full Article: Source


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