OPEC and US shale producers discuss the future of oil

On the eve of the annual conference of oil considered the most influential of the oil industry, the CERAWeek, held on March 7 in Houston, United States, the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Mohammed Barkindo and about 20 leading US business area of ​​crude oil production from oil shale gathered at an important dinner.

According to information from The Wall Street Journal, the meeting had as main theme the future of oil. To "calm the waters" of shale executive, Mohammed Barkindo assured them that the intention of OPEC is not delete them from the oil business, but reducing excessive global supply in order to stabilize barrel prices, so that they are favorable to all negotiators.

At the meeting, according to Bloomberg, had the presence of striking the oil world personalities, considered "enemies" – OPEC and shale producers – reached a consensus that there is a real need for a better balance in the market. However, shale executives said they were not prepared to give up the opportunity for growth, while OPEC stated intention of raising oil prices this year.

The intention of the organization is to find a middle ground that can catch the surplus, providing benefits to stakeholders, but without lowering the price. Although some agreements, it is not possible to know for sure how the situation will be the production of shale and OPEC cuts. Since, according to Panorama Offshore has disclosed the reduction of the Organization has reached 90% of their agreement, while shale production in the United States continues to grow. It looks like we'll have wait scenes of the next chapters.

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