Full Title: For Production Cuts, Oil Market Looks to OPEC, but OPEC looks toward US Shale
Author(s): Robert McNally
Publisher(s): Columbia SIPA Center on Global Energy Policy
Publication Date: 10/2014
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A combination of slowing global demand, recovering Libyan output, and strong US supply growth has caused a steep decline in oil prices. Many oil market participants are now eyeing OPEC, and specifically Saudi Arabia, to see if it will reduce production in order to support oil prices. Robert McNally, fellow for the Center on Global Energy Policy and President of The Rapidan Group, explores this complex issue and its repercussions in the following policy brief. The views expressed are his own.