The year has barely begun but it’s already shaping up nicely for OPEC, with crude rebounding sharply after the worst fourth-quarter performance since 2014. A new production cuts deal with Russia and thawing U.S.-China trade relations have given the market a boost. But for OPEC, good news often comes hand-in-hand with bad news. For that, look no further than the Permian Basin. The biggest shale play in the U.S. is set to pump 3.8 million barrels a day this month, according to Energy Information Administration data. That’s more than the United Arab Emirates, the Organization of Petroleum Exporting Countries’ third-largest producer. The cartel’s decision to cut its own production has actually thrown a “lifeline” to companies in the U.S. by stabilizing crude prices, according to Saudi Energy Minister Khalid Al-Falih. This is a dark cloud on OPEC’s […]