The Rising Influence of Rising Affluence

[benfrankledger]

$COP Future shale growth will be front-loaded, says OPEC, as drillers seek out new fields and aggressively exploit current shale deposits. Yet OPEC admitted that shale will capture more market share in the short term, likely out-competing OPEC output. The group will probably commit to an extension of production cuts when it meets on November 30, and those cuts could extend to the end of 2018 and beyond, in order to raise prices.