It had been widely accepted that a bitter oil production war was being won by the 13-nation Opec cartel, which has flooded the market in a move designed to drive out the upstart US shale industry by keeping prices low.
But that narrative is beginning to be questioned. "Opec has the tell-tale signs of an aging prizefighter. It still technically possesses a knockout punch, but it's unable to land one against younger, more agile opponents, amid doubts as to whether it has the legs to go the distance," says Quartz...............................................Full Article: Source
|