America’s conversation place for mineral owners
OPEC or ROPEC is in a lose-lose situation. If they continue the cuts, shale becomes more active and they lose market share and shale puts a lid on upside potential. If they do not continue the cuts, prices drop and and they lose money selling the same product.
Until things change -- like a surge in economic activity in the US and China which creates a huge drop in inventories -- $53.00 per bbl will be the new normal.