Shale Industry To Help Increase Oil Demand
Today, OPEC released its forecasts. The Organization expects shale industry to be responsible for growth in oil demand in the coming years. The upheaval in shale production caused an oil price reduction during some three years. The crude dropped to 60 dollars/a barrel from 100 dollars/a barrel. That’s why OPEC countries were forced to execute cuts. To sum up, forecast for oil demand in 2022, published in World Oil Outlook report was lifted by 2.2M barrels/day.