How Brent Crude Oil's Dominance Could Come To An End

Law360 (October 22, 2020, 6:43 PM EDT) -- Following the upheaval in the early months of 2020 — when demand for crude oil collapsed, oil prices tumbled and the market valuation of West Texas Intermediate, or WTI, entered negative territory — prices stabilized between June and September, at roughly $40 to $45 per barrel.

However, production cuts by the Organization of the Petroleum Exporting Countries, along with leading oil-producing ally countries, are still tapering off, despite increasing COVID-19 infections and persistent low demand. The small recoveries made thus far are now under threat, with prices dropping below $40 per barrel, and Brent crude hitting a four-month low on Oct. 2....

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