Oil's Bounce From Worst Week in Two Years Capped by Shale Fears - Bloomberg:
"While oil is rebounding from its biggest weekly decline in two years, gains are still being limited by concern over a resurgence in U.S. shale output. Futures in New York were up about 1 percent after tumbling 9.6 percent last week. Prices are near $60 a barrel after data showed last week that American drillers raised the number of rigs exploring for oil to the highest since April 2015. That’s raising fears that a gain in U.S. output will undermine OPEC’s efforts to clear a glut. Hedge funds scaled back bets on rising West Texas Intermediate crude by the most since August. "
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