You are here: Home » Reuters » News
Business Standard

Gloves back on, OPEC and U.S. shale producers to deepen ties in Vienna

Reuters  |  HOUSTON 

By Ernest ScheyderHOUSTON (Reuters) - Only a few years ago, shale CEOs and the Organization of the Petroleum Exporting Countries were in open conflict.Now, they realize they're in the same boat and need to row in tandem to keep global crude supply and demand in balance, according to interviews with analysts, executives and investors. The recent rise in crude prices - up more than 40 percent in the past year - has lifted profits for producers across the globe, but also threatens to erode demand for fossil fuels at a time when electrification is becoming commonplace. "We're getting to a point ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, June 14 2018. 16:43 IST