OPEC+ Takes Aim at U.S. Shale, Again ...Middle East

This week, media reports said OPEC+ could announce yet another bigger than initially planned production hike at its next meeting. On the face of it, the goal is getting quota laggards Iraq and Kazakhstan in line. The other goal, according to a new Reuters report, is to try and kill U.S. shale, again. The oil-producing club took U.S. shale on about a decade ago, turning the taps all the way and flooding the market with oil. Prices crashed. So did a lot of shale drillers at the time. Yet the ones that survived got better at getting the oil out of…

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