Permian shale boom in Texas is devastating for Opec -- The Opec oil cartel is waking up to an unpleasant surprise.

Permian shale boom in Texas is devastating for Opec -- The Opec oil cartel is waking up to an unpleasant surprise.

1970's Gas Crisis.  The oil cartel held back supply of gas driving of up the prices, long lines and eventually rationing.

1970's Gas Crisis. The oil cartel held back supply of gas driving of up the prices, long lines and eventually rationing.

#MARKETS: #Oil surges on #OPEC deal analysts see more upside   December 2 2016 The two-and-a-half-year oil bust could be coming to an end thanks to OPEC. The oil cartel pulled off a surprise agreement snatching victory from the jaws of defeat. The deal calls for collective cuts from 13 members (Indonesia suspended its membership) reducing output by 1.2 million barrels per day to 32.5 mb/d. Also non-OPEC countries will cut output by 600000 barrels per day including 300000 bpd from Russia. The…

#MARKETS: #Oil surges on #OPEC deal analysts see more upside December 2 2016 The two-and-a-half-year oil bust could be coming to an end thanks to OPEC. The oil cartel pulled off a surprise agreement snatching victory from the jaws of defeat. The deal calls for collective cuts from 13 members (Indonesia suspended its membership) reducing output by 1.2 million barrels per day to 32.5 mb/d. Also non-OPEC countries will cut output by 600000 barrels per day including 300000 bpd from Russia. The…

Shots Fired: "OPEC Has Practically Stopped Existing" - Rosneft CEO Mocks Defunct Oil Cartel | Zero Hedge

Shots Fired: "OPEC Has Practically Stopped Existing" - Rosneft CEO Mocks Defunct Oil Cartel | Zero Hedge

The oil cartel, OPEC, has confirmed what has been obvious to many for months: U.S. shale production is in deep, deep trouble as the fracking boom bursts in the

The oil cartel, OPEC, has confirmed what has been obvious to many for months: U.S. shale production is in deep, deep trouble as the fracking boom bursts in the

Coal is rebounding, natural gas prices are up, and the world’s oil cartel is quite content | Grist

Coal is rebounding, natural gas prices are up, and the world’s oil cartel is quite content | Grist

LET FREEDOM RING COURT RULES OPEC IS ABOVE THE LAW Exclusive: Larry Klayman blasts D.C. elites who put special interests ahead of Americans  Read more at http://www.wnd.com/2015/06/court-rules-opec-is-above-the-law/#lVzebpwwYr6hRSqI.99

LET FREEDOM RING COURT RULES OPEC IS ABOVE THE LAW Exclusive: Larry Klayman blasts D.C. elites who put special interests ahead of Americans Read more at http://www.wnd.com/2015/06/court-rules-opec-is-above-the-law/#lVzebpwwYr6hRSqI.99

On Sunday Global oil benchmark Brent crude extended its rally to hit the $50 per barrel mark the third time this year. Since the Organisation of Petroleum Exporting Countries decided to cut output for the first time in eight years.Oil prices have been on an uptrend. Brent against which half of the worlds oil is priced had risen to around $48 per barrel on Wednesday after OPEC agreed to reduce production compared to $45 earlier that day. It stood at $50.19 per barrel as of 4.53pm Nigerian…

On Sunday Global oil benchmark Brent crude extended its rally to hit the $50 per barrel mark the third time this year. Since the Organisation of Petroleum Exporting Countries decided to cut output for the first time in eight years.Oil prices have been on an uptrend. Brent against which half of the worlds oil is priced had risen to around $48 per barrel on Wednesday after OPEC agreed to reduce production compared to $45 earlier that day. It stood at $50.19 per barrel as of 4.53pm Nigerian…

OPEC agreed major production cuts in November, hoping to tame the global oil oversupply and support prices.

OPEC agreed major production cuts in November, hoping to tame the global oil oversupply and support prices.

Ahead of OPEC's meeting next month, analysts are predicting that the oil cartel will maintain current levels of production, or possibly increase them. Evidence suggests that OPEC is not finished securing its share of the oil market, particularly if North American operators manage to resume production at lower prices.

Ahead of OPEC's meeting next month, analysts are predicting that the oil cartel will maintain current levels of production, or possibly increase them. Evidence suggests that OPEC is not finished securing its share of the oil market, particularly if North American operators manage to resume production at lower prices.

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