Why Are Oil Prices So Low? And Where Are They Headed Next?

Oil prices are down 14% on the year, despite OPEC starting and extending its 1.8-million-barrel oil production cut agreement in 2017. The oil price drop surprised investors because OPEC reached a deal to cut oil production on Nov. 30, 2016. Here's why oil prices have dropped this year and why we expect they'll rise over the summer to hit our latest oil price target... Tags: oil price To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2017 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Why Are Oil Prices So Low? And Where Are They Headed Next? appeared first on Money Morning - We Make Investing Profitable .