OPEC Secretary General Urges US Shale Oil Producers To Help Cap Global Supply

OPEC Secretary General Urges US Shale Oil Producers To Help Cap Global Supply

Opec’s Secretary General Mohammed Barkindo on Tuesday called on US shale oil producers to help curtail global oil supply, warning extraordinary measures might be needed next year to sustain the rebalanced market in the medium to long term.

“We urge our friends, in the shale basins of North America to take this shared responsibility with all seriousness it deserves, as one of the key lessons learnt from the current unique supply-driven cycle,” said Barkindo.

The comments by the Organization of the Petroleum Exporting Countries official came during a speech delivered at the India Energy Forum organised by CERAWeek in New Delhi. Read More…

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