The oil cartel and key ally Russia have spent more than a year trying to drain the world of excess supply. But the International Energy Agency warned Tuesday that a "colossal" oil boom in the United States could ruin their efforts.
The Paris-based agency said that a massive increase in output means the U.S. will soon be producing more oil than Saudi Arabia. It could soon challenge Russia for the global crown.
Have you been trading oil recently? How has that fit into your overall portfolio's performance?
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