Oil Economy Focus Rapid Review
Bob Dudley, chief executive of BP, has said that there is a limit to how big a role U.S. shale can play in the global oil market, adding that traditional producers such as Saudi Arabia would continue to exert more influence over crude prices. Surging production of U.S. shale oil and gas has been made possible by advances in drilling technology which has given access to hydrocarbons trapped in “tight” rock formations, but Dudley said that emerging technical challenges called into question the ability of shale companies to rival conventional producers over the long term.
LINK TO THE SOURCE ARTICLE:
BP’s Bob Dudley: U.S. Shale Not To Be Perfect Swing Producer
