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N America shale will push OPEC to cut output - BP

Posted on 17 January 2013

Increasing output of shale oil in North America will put pressure on OPEC to cut its own crude production, resulting in a global oil supply buffer on a scale not seen since oil prices were far lower more than 10 years ago, BP PLC said in its annual energy forecast Wednesday.
BP’s forecasts illustrate the extent to which the North American boom, first in shale gas production and now in shale oil, has redrawn the global energy map. However, the company doesn’t expect the shale revolution to spread by 2030 on any great scale to Asia or Europe, where conditions for investment in unconventional oil and gas fall short of those in North America, BP said………………………………………..Full Article: Source


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