Shale Will Beat OPEC as U.S. Oil Thrives at $40, Citigroup Says.

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    • Subject Terms:
      ORGANIZATION of Petroleum Exporting Countries ; CITIGROUP Inc. 197329691 C
    • Abstract:
      The Organization of Petroleum Exporting Countries and its allies may have boosted oil prices by cutting production, but they're losing revenue in the process and their position "is not sustainable over a long period", Citigroup's Ed Morse said in a Bloomberg television interview on Tuesday. Oil prices have lost 12 percent in London this year, trading near $50 a barrel, as output curbs by OPEC, Russia and other partners fail to drain a global surplus. [Extracted from the article]
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