Crude oil prices moved from a bearish to a bullish sentiment on Wednesday as the market faces competing production trends between OPEC and North America. Crude oil prices have moved in wide swings for much of January amid competing trends on production. Members of the Organization of Petroleum Exporting Countries are showing they’re committed to trimming output in a managed fashion in an effort to offset supply-side strains. That’s brought positive momentum for crude oil prices, but also improved the economics from U.S. shale oil producers that helped contribute to the oversupply in the first place. A note from broker PVM finds the oil market is in a “tug of war” between positive support from OPEC compliance and negative […]