OPEC cuts drive price gain as threat of U.S. output persists WTI, Brent up more than 11% this year; set for 2nd annual gain Oil’s revival from the biggest crash in a generation persisted, with prices set for a second annual gain after a year marked by hurricanes, Middle East conflict and the tussle between OPEC and U.S. shale. Futures are up more than 11 percent in 2017, having entered a bull market in September. The year’s gains were driven by output cuts by the Organization of Petroleum Exporting Countries and Russia, along with geopolitical tensions in the Middle East and pipeline disruptions from the North Sea to Canada and Libya . In 2018, investors will watch whether the price recovery triggers a new flood of U.S. output. “The current highs are unsustainable in the short-to-medium term, with prices likely to head back below $60 once we get past […]