EnergyWatch

Frenemies: OPEC finds US shale oil an intractable problem

A surge in global oil demand has so far absorbed the extra US shale production, limiting the impact on prices. But for OPEC, shale remains as intractable as in the past.

Photo: Bloomberg

In front of the Petroleum Club of Midland, Texas – capital of the booming Permian shale region – an electronic display flashes two crucial pieces of information: the oil price and the number of drilling rigs.

For the past year, both figures have been climbing as OPEC oil production cuts led to higher prices, spurring added drilling activity in the US.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

New developer has 11GW offshore wind ready from inception

Profiles from European Energy, Ørsted and Centrica team up to found a new company aiming to develop solar, onshore wind, offshore wind and do power trading. Theres a hole in the market for us right now — in five years it will be closed, says director.

CIP hires Dutch profile

Current CFO at TenneT Otto Jager will join CIP as partner, with a primary focus on flagship funds.

Further reading

Related articles

Latest News

See all jobs