Investors are betting on the oil price staying lower for even longer after OPEC’s decision to ditch a formal production ceiling, pushing U.S. crude futures for delivery nearly 10 years away below $60 a barrel. This could possibly harm the ability of U.S. shale producers, among the casualties of OPEC’s strategy of pumping hard to retain market share, to lock in profitable prices for future deliveries. U.S. crude futures for front-month delivery fell below $40 per barrel on Monday after the Organization of the Petroleum Exporting Countries failed last week to agree on an output target to reduce a bulging oil glut that has cut prices by over 60 percent since 2014. In the run-up to the OPEC decision, oil derivatives showed […]