[Peakoil] Oil and Gas People: Saudi Arabia Declares Open War on Shale (Saturday, 27 February 2016)

[Antony Broughton Barry]

Saudi Arabia Declares Open War on Shale (Saturday, 27 February 2016)
Oil and Gas People

Riyadh says it will not reduce crude production at its own expense and that high-cost American oil producers should make the cuts. Oil minister Ali al-Naimi says the current crude oversupply should be addressed by less efficient producers. The high-cost producers in question are US shale fields, Canada’s oil sands and deepwater projects. And this is the first time al-Naimi has so openly talked about Saudi Arabia’s oil policy. “The producers of these high-cost barrels must find a way to lower Read the full story


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