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Canadian Crude Producers Feel OPEC's Wrath

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    As the ongoing war between OPEC and US shale oil producers continues to rage, so too does the collateral damage of the global supply glut. The latest casualty of the commodity war appears to be Canadian oil producers as activity in the Alberta tar sands area declines rapidly. As OPEC moved to counter the growing threat from US producers, a strategy of maintaining an over-supply was pursued. The strategy was designed to damage the higher cost basis of the US producers but 17 months later the

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