OPEC surrender We are no longer able to defend

OPEC surrender: We are no longer able to defend oil prices

Cartel is no longer able to
protect world oil prices, which
falling more than two times since June 2014
of the year. This statement was made Minister
Energy of the United Arab Emirates Suhail al-Mazrui,
According to the agency France Press.

The minister believes that
for recovery of oil prices
We need to cut production of shale oil
in North America. “We can not continue
defend a certain price “, – he said,
Al-Mazrui, confirming also that the excess
oil appeared on the market because of the huge
volumes of shale oil.

The price of futures
Brent crude is now trading at
at $ 46.85 per
barrel, WTI – at
at $ 45.09.
Yesterday Brent fell
below $ 46 per barrel. Who will replace OPEC in the current situation – as long as is absolutely clear.

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