{"id":1925,"date":"2017-11-25T20:30:18","date_gmt":"2017-11-25T21:30:18","guid":{"rendered":"http:\/\/madaresharghi.com\/opec-in-the-dark-about-possible-shale-oil-rebound\/"},"modified":"2017-11-25T20:30:18","modified_gmt":"2017-11-25T21:30:18","slug":"opec-in-the-dark-about-possible-shale-oil-rebound","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/opec-in-the-dark-about-possible-shale-oil-rebound\/","title":{"rendered":"OPEC in the Dark About Possible Shale Oil Rebound"},"content":{"rendered":"<p><a href=\"http:\/\/madaresharghi..com\">madaresharghi<\/a><br \/>\n<\/p>\n<p> \tOPEC will have to decide whether to extend global oil cuts without knowing whether they are triggering a new flood of rival supply from US shale producers. \u00a0<br \/> \tAnalysts gave differing outlooks for US shale output in a briefing to officials from the Organization of Petroleum Exporting Countries, stoking concern ahead of OPEC\u2019s planned meeting on Nov. 30, according to people with knowledge of the discussions.<br \/> \tThe analysts included Andy Hall, the veteran crude trader who closed his hedge fund this year, said the people, who asked not to be identified because the briefing was private, Bloomberg reported.<br \/> \tThe duration of any extension in output limits will depend partly on estimates of future supplies of US shale and other competing crudes.<br \/> \tOPEC and allied producers, including Russia, are to gather next week in Vienna to assess oil markets and decide whether to extend their historic cuts beyond March. Several OPEC ministers, including Saudi Energy Minister Khalid Al-Falih, have expressed support for longer cuts, which took effect in January.<br \/> \tSome OPEC officials are uneasy that no one seems to have a clear view of just how much shale oil will be hitting the market, the people said.\u00a0 Forecasts of 2018 growth in shale output range from 500,000 barrels a day to as much as 1.7 million barrels a day, complicating any forecasts, Hall said at the briefing, according to the people with knowledge of his comments.<br \/> \tHe said the US Energy Information Administration is underestimating this year\u2019s growth in shale oil by about 300,000 barrels a day, according to the people.<br \/> \tPer Magnus Nysveen, the head of analysis at Rystad Energy AS, said shale output will gain on average by about 1.2 million barrels a day each year through 2020, due largely to producers\u2019 more efficient use of capital.<br \/> \t&#8220;Rapid expansion in shale output will remain a US phenomenon, as other regions of the world lack such promising prospects,&#8221; said Marianne Kah, the former chief economist for ConocoPhillips, according to the people.<br \/> \tCuts by OPEC and other suppliers to clear a glut have helped lift oil from lows of less than $30 a barrel last year. With West Texas Intermediate crude trading at more than $55 a barrel, producers in the US are drilling more wells to boost production.<br \/> \tThe US is set to pump about 9.2 million barrels a day on average this year, before raising output to a record 9.9 million in 2018, the EIA said in the short-term energy outlook it issued this month. US crude production climbed to a record 9.66 million last week, the EIA said.<\/p>\n<p> \t\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>madaresharghi OPEC will have to decide whether to extend global oil cuts without knowing whether they are triggering a new flood of rival supply from US shale producers. \u00a0 Analysts gave differing outlooks for US shale output in a briefing to officials from the Organization of Petroleum Exporting Countries, stoking concern ahead of OPEC\u2019s planned [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[296,118,28,31,159,639,178,56,213,84,95,82,68,22,23,27],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>OPEC in the Dark About Possible Shale Oil Rebound - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/opec-in-the-dark-about-possible-shale-oil-rebound\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OPEC in the Dark About Possible Shale Oil Rebound - 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