/ world at this time information/ The ministers of the Group of the Petroleum Exporting International locations (OPEC) consider that the “golden age” of shale oil manufacturing within the US is over, studies Bloomberg.
In accordance with the OPEC member nations, in 2020 the expansion of the manufacturing of shale oil within the USA will decelerate. In accordance with Bloomberg, oil merchants adhere to the identical evaluation, studies RIA Novosti.
So analysts at Vitol Group anticipate US oil manufacturing from December 2019 to December 2020 to extend by 700,000 barrels per day, in comparison with a rise of 1.1 million barrels because the finish of 2018. till the top of 2019,
Nonetheless, the delay doesn’t imply its absence. As U.S. impartial shale oil firms announce value cuts, main gamers are more likely to proceed growing manufacturing, Bloomberg notes.
On the identical time, the writer of the article believes that the largest downside for OPEC nations is just not American shale oil, however the total improve within the manufacturing of “black gold” in nations corresponding to Brazil and Norway.
We remind you that in November it turned recognized concerning the plans of American oil and fuel firms to cut back oil and fuel manufacturing. In the identical month, President Vladimir Putin famous that US shale oil manufacturing was “on the shelf”.
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