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Shale boom curbing OPEC’s grip as Saleri sees oil capped at $120

Posted on 11 June 2013

Technological advances to harness shale resources will curb OPEC’s influence in the oil market and cap prices at $120 a barrel, said Nansen Saleri, former head of reservoir management at Saudi Arabian Oil Co.
The boom in North American oil output could be replicated in Russia, China and Brazil as new extraction techniques enable the development of as much as 9 trillion barrels in unconventional reserves, said Saleri, who is now chief executive officer of Houston-based Quantum Reservoir Impact………………………………………..Full Article: Source


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