“Quick! Staring Contest, Me And You”: Who Blinks First, OPEC Or US Energy?

Right, so oil. WTI is on track for its longest winning streak in 6 months after careening into a bear market. Wednesday's EIA data showed U.S. output falling 100k bbl to 9.25m b/d last week, the largest dip in nearly a year, and that's taken some pressure off prices. That said, we're obviously not out of the woods. In fact, we're still deep in those motherfuckers - the woods that is. "The issues that the market was dealing with not that long ago lie not too far below the surface, so a brea