Fast-rising US shale output continues to hamper efforts by the Organisation of the Petroleum Exporting Countries (Opec) to cut oil supply to boost prices. IHS Markit senior director Bhushan Bahree noted in a statement on Friday that the US’s crude oil production is expected to rise by more 900 000 bbl/d this year.
Source: www.engineeringnews.co.za
Rising US output holding back Opec’s efforts to cut global supply
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