ABU DHABI (Reuters) - Fatih Birol, head of the International Energy Agency, said on Friday that while oil prices at $65 to $70 per barrel is good for oil producers now, there is a risk that such a level would encourage more oversupply from U.S. shale drillers.
Birol, speaking at an industry conference in Abu Dhabi, also said that there might be a further decline in production from OPEC member Venezuela in 2018 as its economic crisis hits production.
(Reporting by Rania El Gamal, Maha El Dahan; editing by Jason Neely)
Disclaimer: No Business Standard Journalist was involved in creation of this content
