A "head fake" in oil has driven the price of crude above $50 a barrel. 

Despite historically high demand for oil, inventories have never been higher, and experts say oil prices are likely to drop back into the $20 per barrel range soon.

OPEC’s current president, Qatar’s energy minister Mohammed bin Saleh Al Sada, announced Monday that the oil cartel will hold “informal” side meetings at the International Energy Forum in Algeria in late September. Not surprisingly, the topic will once again be “cooperation” among the disparate and increasingly desperate members to restrict production in efforts to force oil prices higher.

 

 

 

 

Since the crude oil export ban was lifted last December, exports increased seven times previous levels in the first three months of 2016: a lesson in free markets.

An Obama-appointed federal judge has ruled that the Bureau of Land Management overreached its authority when it issued rules on fracking.

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