OPEC Deal Sends Crude Curve Into Backwardation For First Time Since 2014

Following OPEC’s agreement to cut prodiction for the first time in 8 years, front-end prices have spiked (above $50) but perhaps more notable is the unusual ‘stability’ in the crude curve around $54 from July 2017 to Nov 2019.

This post was published at Zero Hedge on Dec 1, 2016.