| Oil market bears argue that rebounding production in U.S. shale regions will add to the global glut of crude, slowing the rebalancing of the market. Don’t be so sure, say skeptics.
Production-rebound proponents argue that the recent rise in U.S. rig counts reflects a new reality in the oil market. In this scenario, the U.S. crude benchmark’s spring rebound, which saw prices push back above $50 a barrel by early June, and a continued fall in production costs were likely to entice previously hard-hit shale producers to reopen closed wells and rejoin the fray...............................................Full Article: Source
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