Trump’s revenge: U.S. oil floods Europe, hurting OPEC and Russia

As OPEC’s efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits – and flooding Europe with a record amount of crude.

Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil output jointly by 1.8 million barrels per day (bpd), a deal they say has largely rebalanced the market and one that has helped elevate benchmark Brent prices <LCOc1> close to four-year highs

FOLLOW THE LINK FOR THE FULL REPORT – JR

https://www.yahoo.com/news/trumps-revenge-u-oil-floods-europe-hurting-opec-082847496–finance.html

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