15.10.2014 - OPEC ‘may no longer play swing producer role’
The Organization of the Petroleum Exporting Countries may no longer necessarily play a role of a swing producer in the oil market, the chief analyst of the West’s energy watchdog, the International Energy Agency, Antoine Halff said. Higher cost projects including US shale, Canadian oil sands or deep-water Brazilian oil production may instead be required to cut output to balance the market when prices fall, he said. Two OPEC sources, meanwhile, said OPEC is unlikely to call an emergency meeting as proposed by Venezuela. The next scheduled OPEC meeting is on Nov. 27 at OPEC’s Vienna headquarters...............................................Full Article: Source
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