Opec has failed to stop US shale revolution admits energy watchdog  

Posted by Big Gav in , , ,

I'm always a little dubious about Ambrose Evans-Pritchard but over the years he has done a great job of covering the topic of oil production and energy geopolitics (albeit with his own political slant).

One of his recent columns in the UK Daily Telegraph has a look at comments from the IEA's Neil Atkinson on the state of the US shale oil industry and then does a roundup of global changes in oil supply and demand - Opec has failed to stop US shale revolution admits energy watchdog.

One key participant in the US shale oil boom was Chesapeake's Aubury McClendon, who recently perished in a car accident shortly after being indicted for various financial crimes.

Elsewhere in the oil patch, Amy Myers Jaffe of the Houston Chronicle's "FuelFix" site has an article on oil geopolitics and efforts to curb supply increases by various OPEC and non-OPEC countries - Commentary: In geopolitical conflict and oil Round 1 all parties score point. One interesting snippet was the claim that US shale oil producers have managed to cut break-even costs by 30-40% over the past year and have increased reserves.

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