U.S. Oil Output Soars Disrupting Global Cutbacks – 18 December, 2017

U.S. crude put a cap on gains as output soared, despite OPEC and non-OPEC countries production restrain until March 2018. West Texas Intermediate crude was trading at $57.30 per barrel, up 14 cents, while Brent Crude Futures was at up 8 cents to $63.49 per barrel. Due to the OPEC and non-OPEC producers, oil inventories are falling globally at less than 56 days of demand.