iflix
Bloomberg - OPEC Sees Its Market Share Shrinking for Years as Shale Triumphs

Bloomberg - OPEC Sees Its Market Share Shrinking for Years as Shale Triumphs

  • TV-G
  • 2019
  • 2mins
Nov.07 -- The biggest producers in OPEC+ aren’t pushing for deeper oil-supply cuts when the group meets next month according to delegates across the coalition. OPEC is anticipating a supply glut in the first half of next year and prices are already lower than most members need to balance their budgets. It could face further pressure in 2020 as U.S. shale-oil supplies boom. Bloomberg's Alix Steel and Tina Davis discuss the producers that represent about half of global supply.