A Headache for OPEC

Rising U.S. crude production threatens the oil cartel’s aim for higher prices

Just what OPEC needs to hear, U.S. crude production could reach a record 9.99 million barrels a day in December, according to Rystad Energy in a note Wednesday. That’s almost 300,000 barrels a day higher than the Energy Information Administration estimate of 9.72 million barrels a day in its November Short-Term Energy Outlook. Rapidly rising U.S. production is one of the main threats to OPEC’s aim for higher prices.

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