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Here’s Why OPEC Fears The Future Of U.S. Shale Oi

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OPEC has major concerns about the U.S. exporting shale oil. Mainly because it feels that it will hinder the cartels plan to raise prices by reducing output.


OPEC, which controls about 40 percent of global oil production, has never dealt with an oil supply source that can respond as quickly to price changes as U.S. shale, OPEC secretary-general Abdalla Salem El-Badri said.


http://houstonenergyinsider.com/?p=4918



OPEC doesn't even represent the majority of oil exporters, and with Iran now free to pump, and needing the cash, there's no chance of OPEC doing anything about reducing production. US shale is a drop in the ocean by comparison to the rest of them.

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