Oil production cut deal takes more time to tackle soaring shale production or situation is now out of control?

Soaring shale production is now the biggest problem for OPEC. Oil cut deal is now going to an end in coming months and still prices are below $70/ bbl. And now the question arises "What OPEC will decide now? But the problem is more bigger than it seems. If Continued production cut deal then they may loose their market share or if they declare the victory and starting production at full pace then Oil price would likely fall sharply. they are in between the devil and deep sea. But we can only hope that they have some really nice strategy to handle this. 

  • Like 1

Share this post


Link to post
Share on other sites

I don't think they expected shale production to grow so much so fast and yes, now they're pushed themselves into a corner. I'd say they start pumping again -- at least they might regain some market share. Bad news for the Aramco listing, though.

  • Upvote 1

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0