Rebound in US shale will limit oil price recovery - FT.com:
"It has been one of the less widely noticed oil price surges. Since January, benchmark Brent crude has risen from less than $47 per barrel to more than $65 per barrel, an increase of about 40 per cent.
The rise has reversed less than a third of the plunge in oil from its peak above $115 per barrel last summer, but there have already been signs that the increase is starting to unsettle debt and equity markets.
While the rebound in oil has been rapid, though, there are good reasons to expect that it will not continue for much longer. The shale oil industry of the US is emerging as the world’s “swing producer”, bringing more crude on to the market when prices rise, and putting a ceiling on its potential price — that will probably now be well below $100 per barrel."
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