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US shale boom putting OPEC on the defense

Posted on 10 June 2013

OPEC’s weakening grip on international oil markets is causing a lot of head scratching and hand wringing among countries that aren’t used to not getting their way.
While the Organization of the Petroleum Exporting Countries is studying the U.S. shale boom’s impact on the cartel, analysts say there is very little OPEC can do — and, some argue, should do — to turn the tide. “I imagine some members of OPEC may be flipping out over shale oil,” Morningstar analyst Jason Stevens said………………………………………..Full Article: Source


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