Oil ends higher on bets for further output declines - MarketWatch: "“While many [traders] are still focused on an oil glut, we may start to see that go away as production in the U.S. and some other producers are falling and [the Organization of the Petroleum Exporting Countries] is near capacity,” said Phil Flynn, senior market analyst at Price Futures Group, in a note.
According to Richard Hastings, macro strategist at Global Hunter Securities, production may decline even more than is understood because the U.S. has a ban on oil exports. “There is nothing holding it [output] in place,” he said. Read: House plans vote on bill to lift ban on oil exports"
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