Trump’s Revenge: U.S. Oil Floods Europe, Hurting OPEC and Russia

By Coalition of Energy Users

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.

Click here to read article at reuters.com.

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