Is OPEC Deal Compliance About To Crash?

OPEC is declaring victory in its efforts to rebalance supply
and demand and bring the oil market back to stability—its favorite
proxy buzzword for less volatile and relatively high oil prices.
While OPEC is taking credit for some of the oil price rally in
recent weeks, a number of various other factors have combined to
push oil prices up—strong oil demand growth, weaker U.S. shale
growth, falling U.S. inventories, and the return of some
geopolitical risk from the Middle East with the Iraq-Kurdistan
standoff and Saudi government purge.…

OPEC is declaring victory in its efforts to rebalance supply
and demand and bring the oil market back to stability—its favorite
proxy buzzword for less volatile and relatively high oil prices.
While OPEC is taking credit for some of the oil price rally in
recent weeks, a number of various other factors have combined to
push oil prices up—strong oil demand growth, weaker U.S. shale
growth, falling U.S. inventories, and the return of some
geopolitical risk from the Middle East with the Iraq-Kurdistan
standoff and Saudi government purge.…