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Shale to slate OPEC’s oil!?

Posted on 25 November 2013

It seems that the world’s largest oil producing cartel has finally realised the threat it faces from the US shale bonanza. In its latest World Oil Outlook, Organization of the Petroleum Exporting Countries (OPEC) has apparently acknowledged that the fracturing technology could sharply chisel the demand for the group’s own oil.
The impact of North American shale boom is the highlight of the annual study. Recall that in its annual oil outlook two years ago, the group paid no heed to the fast developing US shale, categorising it only a ‘marginal’ addition to the global supply………………………………………..Full Article: Source


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VRS - who has written 38538 posts on Opalesque Commodities Briefing.


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