Opec’s thorn in the flesh

Shale reality: Rig supervisor David Crow showing the oil rig he manages for Elevation Resources at the Permian Basin drilling site in Andrews County, Texas. US shale oil production has definitely rebounded, and this is one of the major reasons why oil prices are falling below the US50 level. – Reuters

Relentless US shale production likely to put a dent on oil prices

A few key things have changed in the oil industry over the last few months.