OPEC’s War Against Shale Is Far From Over

Jon Alternative Media, Blogosphere, Energy, Market Commentary

Authored by Gregory Brew via OilPrice.com,
Despite the recent market rally and current bullish streak in oil prices, the years-long competition for market share between OPEC and U. S. shale producers shows no sign of abating, and will likely continue for the next several years at least.
That was OPEC’s conclusion in the group’s World Oil Outlook released this week. OPEC believes U. S. shale production will grow faster than previously expected, reaching 7.5 million bpd by 2021, an increase of 56 percent from the group’s estimate last year.

This post was published at Zero Hedge on Nov 10, 2017.