OPEC nears recovery from predatory pricing failure, it will still have to deal with US shale
Fuel Fix:
Oil glut nearly gone, but shale rebound looms, says IEAThey appear to be coming to grips with losing their biggest customer and are now having to compete on a global scale with US shale producers. Their attempt to drive the shale producers out of business with predatory pricing backfired as it only made the shale players more efficient. US producers in some cases now have a lower cost of production than many OPEC countries.
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