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OPEC’s War Against Shale Is Far From Over

OPEC’s War Against Shale Is Far From Over

zerohedge.com / by Tyler Durden / Nov 10, 2017 3:15 PM

Authored by Gregory Brew via OilPrice.com,

Despite the recent market rally and current bullish streak in oil prices, the years-long competition for market share between OPEC and U.S. shale producers shows no sign of abating, and will likely continue for the next several years at least.

That was OPEC’s conclusion in the group’s World Oil Outlook released this weekOPEC believes U.S. shale production will grow faster than previously expected, reaching 7.5 million bpd by 2021, an increase of 56 percent from the group’s estimate last year.