Patti Domm | @pattidomm: 20 June 2017
Oil prices could slide back into the $30s per barrel before the sell-off ends and prices stabilize, analysts said, bringing pain to both OPEC and its archrival — the U.S. shale industry
West Texas Intermediate oil futures for July were trading around $43 per barrel Tuesday, and Brent futures were just above $45. One catalyst for the decline was a report that Libyan oil production has returned to close to 900,000 barrels a day, its highest level in four years. Growing U.S. production and stubbornly high inventories has been another driver of lower prices.