The latest on oil prices: The forces that helped drive WTI and Brent apart have suddenly reversed course.
When discussing the “success” surrounding OPEC’s cuts, it’s important to remember where the market was at the beginning of 2016, when prices fell below $30. Now, prices are in the mid-$50s, reflecting the impact of OPEC's actions.
The current stability is relatively rare for the oil market, which is prone to rampant volatility for numerous reasons. When the market eventually breaks out, it could do so aggressively.