OEF Rapid Review Articles
Saudi Arabia and Russia have taken the first step to stem the slide in oil prices. There’s just one problem: If they are successful — and that’s a big if — the wildcatters of Texas, Oklahoma and North Dakota are waiting to pounce. With 4,000 wells drilled and just waiting for better prices to be brought on stream, the so-called fracklog could act as a cap to any oil rally, industry executives, traders and OPEC officials said. Worse, a price recovery could effectively bail out dozens of shale companies now struggling with $30-a-barrel oil, allowing them to return to the capital market.
loomberg
LINK TO THE SOURCE ARTICLE:
There’s one place where OPEC can’t broker an oil deal: Texas
LINK TO THE SOURCE ARTICLE:
There’s one place where OPEC can’t broker an oil deal: Texas