| Crude oil slid nearly 3 percent on Friday, as Organization of Petroleum Exporting Countries (OPEC) refused to cut production levels despite an ongoing supply glut that has pressed down mightily on prices. And at this point, traders don't appear to see crude oil rising back above $50 per barrel any time soon.
With the most widely traded Brent crude contract trading just above $40, the first futures contract that shows oil above $50 expires in the second half of 2017. Crude oil for December 2017 delivery (which is more liquid than other far-in-the-future contracts) is trading at just $51 per barrel...............................................Full Article: Source
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