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OPEC losing control of oil prices due to US fracking (Video)

Posted on 05 December 2013

Until recently, there were concerns the world would run out of oil and gas - but the development of hydraulic fracking has diminished those fears. The US is producing more oil that it imports and this is seriously denting oil-producing countries’ export earnings.
For many years, the OPEC cartel was able to manipulate prices through their grip on supply - however, many forecasts now suggest that in Europe the price of Brent crude may soon fall below $100 a barrel………………………………………..Full Article: Source


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VRS - who has written 40705 posts on Opalesque Commodities Briefing.


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