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Global oil prices to decline due to U.S.-led shale boom, German agency says

Posted on 01 November 2013

The U-S.-led shale boom will have a lasting impact on global energy prices and push crude oil prices down to $80 a barrel, according to an analysis by Germany’s BND intelligence agency obtained by Reuters on Thursday.
The BND said the U.S. shale boom would have a greater impact on global markets than it predicted in a previous analysis earlier this year. “The effects from the unconventional production of oil and natural gas in the United States will be pronounced over the next 10 to 20 years,” the report said…………………….Full Article: Source


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