$70 pb by end of 20205 Jun 2020 19:38
WTI Crude prices may be set for a 90-percent jump to $70 a barrel by the fall as U.S. oil producers may have “over-cut” production, Dan Eberhart, chief executive of Canary Drilling Services, told Markets Insider this week.
According to the manager of the drilling firm, U.S. oil companies have curtailed production too much too fast when prices collapsed, setting the stage for a “mini-supply shock” on the U.S. oil market.