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Commodities Briefing - Categorized | Market Moves, Oil more

Is this the end of an era for OPEC?

Posted on 16 May 2013

The commodity axis has shifted, according to the latest International Energy Agency’s (IEA) semi-annual review of the oil market. North America’s shale oil boom is about to revolutionize the oil market, threatening OPEC’s grip on commodities.
The IEA expects US oil production to grow by 3.9 million barrels of oil per day from 2012 to 2018, significantly faster than the 1.75 million barrels per day of growth forecast for OPEC producers…………………………………….Full Article: Source


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VRS - who has written 39856 posts on Opalesque Commodities Briefing.


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