Photographer: Andrey Rudakov/Bloomberg

Crude Glut Belies Risk From OPEC’s Dwindling Output Cushion

  • Lack of spare capacity increases risk of future supply squeeze
  • Spending cuts amid crash has hurt new oil-production projects

As most of the world focuses on how unfettered oil production will weigh on prices, a few say a rebound is on the cards as the market starts to reflect a growing risk of shortages.

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