Yesterday, 10:53 AM
Yup, that was what my read of OPEC's course of action was.
Now, there's no guarantee that they will abide by the cuts, but the price increase will help get US production going again, especially on land with some of the massive new finds in West Texas waiting to be drilled and, I am suspecting, quite a bit of new federal land open to drilling under Trump.
Long term increases in oil prices would make coal a viable alternative again.
I have long been of the mindset that coal and nuclear should be the primary electrical generating fuel, oil and natural gas used for transportation and home heating.