OEF Rapid Review Articles
Oil-price gains will trigger a “significant” increase in U.S. shale output as OPEC and other producers rein in supply, according to IEA head Fatih Birol. At $56 to $57 a barrel, “a lot of shale plays in the United States would make perfect sense to produce.” The oil industry is becoming more cost-efficient and a “big chunk” of global output is now profitable at $50 to $55 a barrel, Birol later added, citing Brazil, Mexico and China as countries that will also boost production. There’ll be “lots more” supply in late 2017 or early 2018, he said.
LINK TO THE SOURCE ARTICLE:
IEA: Significant Gains In U.S. Shale Oil Output As Prices Rise
LINK TO THE SOURCE ARTICLE:
IEA: Significant Gains In U.S. Shale Oil Output As Prices Rise