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Saudi sees limited hit to OPEC from shale

Posted on 11 April 2013

Production of oil from shale deposits will be too limited and costly to significantly harm the interests of established oil exporters, the adviser to Saudi Arabia’s oil minister said, in the most comprehensive response yet from OPEC’s top producer to an energy boom that is reshaping global markets.
However, Ibrahim al-Muhanna, a close adviser of Saudi Oil Minister Ali al-Naimi, acknowledged the psychological impact the U.S. shale boom is having on members of the Organization of the Petroleum Exporting Countries, most of whom have so far played down the significance of the phenomenon………………………………………..Full Article: Source

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