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New oil reserves pose threat to OPEC dominance

Posted on 28 November 2011

While the world remained focused on Tahrir Square — another revolution of its kind has been in the making — impacting, changing and altering the global energy dynamics.

The issue of global energy security seems changing nexus now, resulting in uncertain call on Saudi and OPEC oil in medium term. Large new, conventional and unconventional reserves in North America, and elsewhere, are questioning the dominant role of OPEC in meeting the global oil thirst. These new developments have also sapped the urgency to develop the Kingdom’s own reserves — further — at this stage……………………………………….Full Article: Source


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VRS - who has written 39041 posts on Opalesque Commodities Briefing.


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