OPEC: U.S. Shale To Rise Much Faster Than Expected

Higher oil prices, robust oil demand growth, and higher
upstream activity will lead to faster-than-previously-expected
growth in U.S. shale production until 2022, OPEC said in its World
Oil Outlook 2017 published on Tuesday. Compared to last year’s
annual OPEC outlook, the medium-term outlook for non-OPEC liquids
growth has “changed quite considerably”, the cartel said, citing
the “US tight oil sector’s resilience and ability to bounce back.”
“Most strikingly, US tight oil production has exceeded
previous…

Higher oil prices, robust oil demand growth, and higher
upstream activity will lead to faster-than-previously-expected
growth in U.S. shale production until 2022, OPEC said in its World
Oil Outlook 2017 published on Tuesday. Compared to last year’s
annual OPEC outlook, the medium-term outlook for non-OPEC liquids
growth has “changed quite considerably”, the cartel said, citing
the “US tight oil sector’s resilience and ability to bounce back.”
“Most strikingly, US tight oil production has exceeded
previous…