23.02.2015 - Oil giant BP predicts Opec comeback as Brent crude price rises
Saudi Arabia and its fellow Opec members are set to make a massive comeback and regain control of the world’s crude oil market, and could be in their previous position of influence as early as next year. The prediction, published by oil giant BP, is based on growth in America’s production of shale gas slowing down. The US shale boom is partly behind a collapse in global oil prices over the past six months. BP believes the Organisation of Petroleum Exporting Countries (Opec) will be back on top within the next 15 years. The firm stated that Opec will regain its traditional 40 per cent market share by the end of 2035...............................................Full Article: Source
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