In a Mideast upset by cheap oil, more crude may enter market

The possibility of more supply entering the market has analysts already lowering their forecast price for oil into the next year. And even if the price rises, industry experts say U.S. production quickly could ramp up and keep prices low for years to come, challenging the power of OPEC.

“There’s almost no way that OPEC can get the band back together,” said Greg Priddy, the director for global energy and natural resources at the Eurasia Group. “You can’t get prices rapidly back up … because you’d get runaway growth in the U.S.”


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