Last year’s OPEC deal to cut production managed to lift oil prices and stabilize them around US$50 for most of the first quarter this year. The higher price of oil led to quite the Permania, with a lot of the available capital and subsequent production focused on the most lucrative of the U.S. shale basins, but investors backing the Permian adventurers are threatening its top spot. The Permian continues to lead production gains of U.S. crude output, which is exceeding the wildest projections for recovery. However, a group of investors in Permian-focused drillers have reduced their positions in the largest U.S. oil field, in what could be a sign of concern that the unstoppable rise in production could sink oil prices and unravel the resurgence U.S. shale has been enjoying since OPEC decided to play the market-fixer again and collectively reduce output. These investors are some prominent hedge funds […]