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OPEC impotency laid bare

OPEC’s impotency in the face of US shale developers’ relentless thirst for more oil production has been laid bare, with analysis showing US drilling budgets are rising 10 times faster than the rest of the world, even as the cartel considers extending production cuts into 2018.

OPEC impotency laid bare

Recent analysis by Bloomberg shows that, even with the recent drop in oil prices, US shale oil developers are still able to generate significant profits, and are ploughing much of that into even more drilling....

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