-
OPEC chief says cartel hurting U.S. shale producers
OPEC’s top official said Sunday that the cartel’s decision to keep pumping crude in the face of collapsing prices is hurting the U.S. shale-oil industry and a global pullback on investment could lead to a shortage that will push the market upward again. “Projects are being canceled. Investments are being revised. Costs are being squeezed,” said Abdalla Salem el-Badri, the secretary general of the Organization of the Petroleum Exporting Countries, at the Middle East Oil and Gas conference in Bahrain. “If we don’t have more supply, there will be a shortage and the price will rise again.” Other top ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Mar 8, 2015 4:51pm Mar 8, 2015 4:51pm
- Abhimanyu
- | Joined Jan 2013 | Status: Member | 328 Comments
- Comment #2
- Quote
- Mar 8, 2015 4:53pm Mar 8, 2015 4:53pm
- dewyspip
- | Joined May 2014 | Status: Member | 8 Comments
- Comment #3
- Quote
- Mar 8, 2015 7:17pm Mar 8, 2015 7:17pm
- Guest
- | IP XX.XXX.14.252
- Comment #4
- Quote
- Mar 8, 2015 11:58pm Mar 8, 2015 11:58pm
- DaTokyoHustl
- | Joined Oct 2014 | Status: Member | 7 Comments
- Comment #5
- Quote
- Mar 9, 2015 3:30am Mar 9, 2015 3:30am
- Ill-b-back
- Joined May 2011 | Status: Get to the Chopper | 3897 Comments
Come with me if you want to live....