While OPEC and its allies successfully reached a deal to extend its production cut quotas into 2020, the oil price response was markedly disappointing, leaving the market to wonder if oil prices will ever recover much beyond the levels that they are today. Leading up to the most recent OPEC meeting, the Brent barrel was trading at a hair over $66. And while most analysts agreed that the market had already priced in an extension of some sort, not many were calling for prices to fall in a notable way. But prices did just that, falling to just above $62 on Wednesday on a weakened global demand outlook—not even the API reporting on Tuesday a crude oil inventory drop of 5 million barrels was able to stop the dramatic price slide that saw prices off 5%. One thing that may have the power to lift oil prices out of […]