The American Oil Boom Won't Last Long at $65 Per Barrel

U.S. shale oil production Photograph by Gregory Bull/AP Photo

So maybe OPEC does still matter. After deciding to keep its production levels unchanged at 30 million barrels a day and triggering Friday’s nearly 10 percent selloff, the cartel proved it can still cause huge swings in oil prices‐even if it’s in the opposite direction that most of its members wanted to see.

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