Why U.S. Shale Won’t Derail The Oil Rally ...Middle East

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Why U.S. Shale Won’t Derail The Oil Rally
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For the first time in nearly a decade, OPEC has solid reasons to believe that its control over the global oil supply will not be ruined by a surge in U.S. crude oil production.  The ongoing restraint in drilling activity in the shale patch would make the efforts of OPEC and its allies in the OPEC+ group to manage supply to the market this year a much easier task.  Last week, OPEC+ was reportedly told by major international forecasters—including the Energy Information Administration (EIA), the International Energy Agency (IEA), Wood…

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