Banks Increasingly Think OPEC Will End Supply Cuts as Oil Hits $70 - Bloomberg:
"As oil rallies to a three-year high near $70 a barrel, the view that OPEC and its partners will end their supply cuts early is spreading. Citigroup Inc., Societe Generale SA, and JMorgan Chase & Co. predict the coalition of oil producers may begin winding down their intervention from the middle of the year, before its scheduled conclusion in December. The producers are nearing their goal of clearing an inventory glut, and rising prices risk encouraging rival supply. Crude has climbed as output curbs by the Organization of Petroleum Exporting Countries and Russia successfully whittle away a surplus that had weighed on global markets for more than three years. The agreement will be reviewed at their next formal meeting in June."
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