By Jenny Cosgrave, Staff Writer The rise of North American oil supplies could test the future of OPEC which may have to curb supply to accommodate rising shale oil volumes, a new report has found. The increase in U.S. output is a “defining feature of tomorrow’s market” according to International Energy Agency’s oil market report… Keep reading →
US tight oil production has already helped to shave somewhere on the order of $20-$25 per barrel from Brent crude oil prices, and continued output growth has the potential to further impact global pricing, according to Energy Information Administration (EIA) Administrator Adam Sieminski. The uptick in US oil production – which rose to 6.5 million… Keep reading →
