Frontera Energy Corp

FEC: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 55.84	Qfw	Mbbmdkrt

Nothing Novel About It: OPEC Adds a Twist to the Plot, but the Ending Is Unchanged

Stephen Simko

Dec 2, 2016

OPEC's announced production cuts this week represent a positive near-term development for world oil markets, removing more than 1 million barrels per day from an oversupplied system. Even after factoring in the inevitable U.S. shale response to higher crude prices, OPEC's cuts point to a meaningful supply deficit next year. Consequently, we are raising our 2017 WTI price to $60 per barrel, up from $50 previously.

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