For Production Cuts, Oil Market Looks to OPEC, but OPEC Looks Toward US Shale

Lead PI: Robert McNally

Unit Affiliation: Center on Global Energy Policy (CGEP)

October 2014 - Ongoing
North America ; Asia ; Africa ; United States ; Libya ; Saudi Arabia
Project Type: Research Outreach

DESCRIPTION: A combination of slowing global demand, recovering Libyan output, and strong US supply growth has caused a steep decline in oil prices. Many oil market participants are now eyeing OPEC, and specifically Saudi Arabia, to see if it will reduce production in order to support oil prices. Robert McNally, fellow for the Center on Global Energy Policy and President of The Rapidan Group, explores this complex issue and its repercussions in the following policy brief.