(Bloomberg) — The year has barely begun but it’s already shaping up nicely for OPEC, with crude rebounding sharply after the worst fourth-quarter performance since 2014. A new production cuts deal with Russia and thawing U.S.-China trade relations have given the market a boost. But for OPEC, good news often comes hand-in-hand with bad news. For that, look no further than the Permian basin. The biggest shale play in the U.S. is set to pump 3.8 million barrels a day this month, according to Energy Info
Source: Permian Shale Oil Boom Holds Mixed News for OPEC | Rigzone