Energy

US shale oil producers are concerned about slowdown

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ABU DHABI, United Arab Emirates — OPEC Secretary General Mohammed Barkindo isn’t worried about booming U.S. shale production pushing the oil price down despite a difficult year for the 14-member crude producing organization, which has struggled to keep prices from falling in a low demand environment.

Asked about the disruptive impact of U.S. shale on the energy market, and whether the abundant commodity could torpedo OPEC’s efforts to boost prices into the new year, Barkindo cited an impending slowdown in shale — and suggested the most concerned party out of anyone should be shale producers themselves.

“Here in ADIPEC, talking to a number of producers, especially in the shale basins,…



Source cnbc.com

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