US shale collapse will lead to higher oil prices ...United Arab Emirates

Russia Today - Economy
US shale collapse will lead to higher oil prices
source : Russia Today ( United Arab Emirates ) () 97
US shale growth is about to decline, becoming an immediate victim of the Saudi-Russian price war. Saudi Aramco said that it would increase oil production to 12.3 million barrels per day (mb/d) in April, a shocking escalation of the war for market share. That level of output is believed to be beyond what Aramco can produce on a sustainable basis. In other words, Saudi Arabia is going all-out to flood the market. Read more Who will blink first? Russia in better position to win oil price standoff with Saudi Arabia Also, Saudi energy minister Prince Abdulaziz

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