Drilling Executive: Oil Prices Could Hit $70 This Fall

WTI Crude prices may be set for a 90-percent jump to $70 a barrel by the fall as U.S. oil producers may have “over-cut” production, Dan Eberhart, chief executive of Canary Drilling Services, told Markets Insider this week. According to the manager of the drilling firm, U.S. oil companies have curtailed production too much too fast when prices collapsed, setting the stage for a “mini-supply shock” on the U.S. oil market.   Early on Friday, WTI Crude prices were rallying 4.38 percent to $39.05, as the market appears confident…