US crude oil output continues to rise and there's still a stack of supply sitting on the sidelinesGet the Full StoryUlet Ifansasti Getty
The Brent crude price has rallied 130 since early 2016, underpinned by strong economic growth and production cuts from OPEC and its allies.
US crude production — already close to record-highs — is predicted to lift even further in the years ahead given easy access to new supply.
The Commonwealth Bank sees Brent crude falling to 53 by the end of 2018.
Even with a recent wobble, crude oil prices have been on a tear in recent years, underpinned by the belief that production cuts from OPEC and its allies, along with firmer global growth, will help to balance the global market.
But a threat to that outlook continues to lurk in the background: US crude production.See the rest of the story at Business InsiderNOW WATCH: Microsoft President Brad Smith says the US shouldn't get 'too isolationist'See Also:'Red flags' for the oil market are popping up all over the worldGoldman Sachs has spotted an odd way you could make money trading Bitcoin futuresGlobal markets have calmed down -- except in China, where major stocks are still getting smashed