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Commodities Briefing - Categorized | Oil, Performance more

OPEC Is Winning the Market Share War

Posted on 14 July 2016

The Middle East is back as the world’s dominant oil-producing region, a report said Wednesday, churning out its biggest chunk of global output since the 1970s and giving OPEC an edge in its fight for market share.
The rise of American oil production from shale formations had reduced consumer reliance on Middle East crude in recent years. But a surge in production from Saudi Arabia, Iraq and Iran this year—coupled with falling shale oil output during a price slump—has changed the equation, according to the International Energy Agency’s closely watched monthly report………………………………………..Full Article: Source


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