OPEC: U.S. SHALE WILL NOT AFFECT OIL MARKET.

OPEC guarantees oil market that U.S. oil shale will not them

The President of the Organisation of Petroleum Exporting Countries (OPEC) and United Arab Emirates (UAE)’s Energy Minister, Suhali Al Mazrouei, stated that the increased production of shale oil by the United States will not hinder the effort of OPEC and other countries to clear the surplus in the oil market.

The Managing Director of Nigeria LNG limited (NLNG), released its gas potential and support NLNG’s expansion programme. This programme is in preparation for a world that is reducing fossil fuel consumption and minimize carbon.

The monthly Oil Market Report (OMR) on Monday showed that the organisation lead to the increase in US shale oil production. Its price for crude oil has been stable since the middle of last year. The price encouraged production, not only in US shale oil and US waters in the Gulf of Mexico.