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IEA chief sees OPEC role unchanged despite US oil boom

Posted on 21 June 2013

OPEC’s role in supplying global oil markets has not been diminished by the surge in oil production in the United States, though trade patterns willshift as a result of the shale boom in North America, the head of the International Energy Agency said Thursday.
In an interview with Platts on the sidelines of the St Petersburg International Economic Forum, IEA executive director Maria van der Hoevensaid OPEC’s role was as important as ever. “I don’t think that [OPEC] will be less important than it used to be,” van der Hoeven said………………………………………..Full Article: Source

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