Oil production – no OPEC cut, US. growth opportunity – peak oil

At first, OPEC’s decision not to cut production gave me pause. As you know, I (along with everyone else) expected to see the cartel slash output even further. Yet when the time came to pull the trigger, OPEC hesitated.

The decision seemed admirable, considering another cut would have caused oil to spike again. After my initial pause, I began to picture how the market would take the news. Surely a drop in crude was on its way, right? Today the markets once again proved confusing. As expected, I watched oil prices fall as low as $43.62 per barrel this morning. By mid- afternoon I looked on as oil rebounded, threatening to move over $48 per barrel.
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