OPEC admits United States shale may crash oil price

The Organisation of Petroleum Exporting Countries (OPEC) has admitted for the first time that the growing crude oil output from the United States (U.S.) may threaten the price of crude oil despite efforts to rebalance the market. OPEC, in its monthly report yesterday, upgraded expected supply from non-members, saying that the output was surging beyond … Continue reading OPEC admits United States shale may crash oil price