| North American oil producers and OPEC nations seem to be in a standoff. Like Clint Eastwood and some bad dude in an old western movie, both have their hands close to the holster, waiting for the other to make the first move. This time, though, the guns they are reaching for would slow down oil production, relieve excess supply, and in turn raise oil prices from the lows we haven't seen since the financial collapse of 2008.
With oil at $80 per barrel, neither group is happy, but both are saying that they will be able to outlast the other in this price environment. So, which one is right?..............................................Full Article: Source
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