OPEC Doesn’t Expect More U.S. Shale Oil Production ...Middle East

Despite $70 oil, U.S. shale producers are not expected to significantly raise crude production this year as they continue to be focused on disciplined capital expenditures and returning more cash to investors, OPEC sources told Reuters at the end of policy meetings of the organization. OPEC’s economic and technical think-tank, the Economic Commission Board, met this week to take stock of the situation on the global oil market and the global economy. The board was also expected to review topics such as investment, expectations about recovery,…

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