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OPEC relaxed about cost-sensitive shale oil

Posted on 02 October 2013

A rise in output of North American tight oil will not trouble OPEC, the group’s secretary general said on Tuesday, maintaining his view that the new supply source will not significantly impact the group’s market share.
Abdullah Al-Badri, attending the annual Oil and Money conference in London, referred to forecasts of rising production of tight oil, also known as shale, but said that would not be a problem for the 12-member OPEC. “I do not think that with this quantity OPEC is in trouble,” Badri said………………………………………..Full Article: Source


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