The interaction between U.S. shale and OPEC will continue to be the dominant narrative in the oil market this year, and the opposing forces could end up trapping oil prices within a relatively narrow price band. Market sentiment has shifted quite a bit over the past month, with the impact of the OPEC cuts sparking bullish sentiment and huge price gains in January. But the surge in U.S. shale production has decidedly broken the fever, and oil prices have retreated sharply from their highs amid fears of another downturn. This dynamic could continue for quite a while, with prices and sentiment seesawing back and forth. Nevertheless, while OPEC and shale drillers duke it out, those too opposing forces could put lower and upper bounds on oil prices, keeping trading within a relatively tight trading range of $60 to $75 per barrel for Brent, according to a new report from […]