How Much Did Confidence in OPEC Really Affect Oil Prices?
The rise in oil prices has been, in part, attributed to confidence that OPEC will extend the cap on global oil production through 2018.
In this segment of Industry Focus: Energy, show host Sarah Priestley and Motley Fool premium analyst Taylor Muckerman discuss how realistic that hope is. Oil-producing nations such as Nigeria and Libya are upping production and show no sign of wanting to participate in a cap. As crude approaches $60 a barrel, more and more U.S. shale producers will be tempted to frack the untapped potential of waiting wells.
A full transcript follows the video.
Source: Fool.com
