The President of OPEC said on reactivity of the shale industry in USA


American companies, extracting shale oil can easily increase production and to meet the shortage of hydrocarbons if the oil price will rise due to the reduction of production in other countries. As reported by Bloomberg, said the Secretary-General of the Organization of countries-exporters of oil (OPEC) Abdullah al-Badri during a speech at the annual international oil and gas conference in Houston.

“I don’t know how we will live with it,” said the words of al-Badri. “Any rise in prices will immediately react to the shale industry and will stop all reduction of volumes of extraction”, — he explained.

According to him, OPEC has never had to deal with the source of oil that can so quickly respond to changing prices. This, added al-Badri, greatly complicates the ability of the cartel to restrain the fall in prices by reducing production.