Are Mandatory Output Cuts The Only Way To Save U.S. Oil?

The United States has been on the opposite side of the OPEC oil cartel for decades in a great battle between the free market and supervised production levels.  All that may be about to change, with the free market in the United States giving way to unprecedented action that could direct production levels of its private oil companies, playing OPEC’s game to survive the current crisis. The U.S. oil industry is very sick and getting sicker by the day. The negative prices we saw last week, finite oil storage space and the decimation of demand…