OPEC on Wednesday raised its forecast for non-member oil supply this year to almost double the growth predicted four months ago as higher prices spur U.S. shale drilling, offsetting OPEC-led output cuts and a collapse in Venezuelan production.
OPEC sees oil supply surge from rivals, countering its cuts
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RittaFarr
This is something I’ve been thinking for several weeks, with all of the news about US Shale crushing it with all time highs.
PatrickO'Brian
Curious what some of the experts here think. How quickly could OPEC reverse their cuts? Also, would they even reverse the cuts given the likely hood that it would put downward pressure on the price and ultimately their ability to fund somenof the specific governments.