What’s more, the U.S. is only an actual competitor to OPEC+ in Europe, and that’s where the political leadership is putting a lot of effort into killing oil demand, so the outlook for that particular market is not among the most optimistic long-term. The Reuters report suggesting OPEC+ wants to flood the market with cheap oil to hurt U.S. shale notes that OPEC’s share of global oil supply had fallen over the last couple of decades from over 50% before the shale revolution to 40% a decade ago and “just” 25% this year. Due to the accumulation of wastewater underground, the risk of leaks has increased, and the Railroad Commission of Texas is taking steps in the form of drilling restrictions until such time as underground disposal reservoir pressure falls.
Author: Irina Slav
Published at: 2025-05-25 23:00:00
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