"Oil prices have traded in a tight range in recent weeks, with U.S. prices pivoting around the psychologically key $60-a-barrel level. Forecasts that the global glut of crude oil is due to shrink, due to growing demand and a decline in drilling, have boosted prices from multiyear lows earlier this year. But some investors remain [...]

"Saudi oil minister Ali al-Naimi, who wants to target US shale producers, claims latest Opec meeting was ‘amicable’ despite some exporters seeking higher prices" Source: theguardian.com