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Move over, OPEC

Posted on 06 June 2013

Things are getting interesting vis a vis OPEC and the U.S. shale industry. The once-omnipotent oil cartel is taking serious notice of the impact of the shale boom on global oil prices and markets.
As well it should. Increased shale oil production domestically is pushing the U.S. toward potential energy self-sufficiency by 2018, analysts predict. Boosts in shale oil production in this country already are cutting deeply into OPEC’s share of the U.S. oil market………………………………………..Full Article: Source


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VRS - who has written 38584 posts on Opalesque Commodities Briefing.


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