shale oil producers are one of beneficiaries of current oil recover
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

Shale oil producers are one of beneficiaries of current oil recover

Arab Today, arab today

Arab Today, arab today Shale oil producers are one of beneficiaries of current oil recover

Shale oil producers are one of beneficiaries of current oil recover
Abu Dhabi - WAM

Suhail Al Mazrouei, Minister of Energy and Industry, has said that the current recovery of the oil market is due to market forces which benefit OPEC and shale oil producers alike.

He made his comments while taking part in the UAE Ministry of Energy and Industry Knowledge Series panel discussion entitled, "Oil and Gas Outlook to 2020, What Stage of Cycle are We in?" on the inaugural day of ADIPEC at the Abu Dhabi Exhibition Centre.

The minister said that shale oil producers are needed as part of the equation, "We cannot exclude them, or think that they are working against us," he said, adding, "Yes, they are one of the beneficiaries of the correction in oil prices."

He also referred to the forecast of oil demand in the past, saying that now it is better than what was predicted. He said, "When we started the deal, the expectations were about how much the shale oil producers would produce, and if you check the data you will find that they were not achieving the level of production that they were thinking."

He said that when the oil prices went down, the market applied significant pressure on the services companies, so the shale oil producers have to work harder to improve. "Some of those improvements are here to stay, some of those improvements are eating their margins, so they cannot sustain it long. However, they continue to invest because they cannot shut down their operations. Some efficiency improvements are going to stay," Al Mazrouei, added.

He said that shale oil producers need higher average prices to give incentives to investors.

Talking about OPEC's rotating presidency, the minister lauded the efforts of Khalid Al-Falih, Saudi Arabia's Minister of Energy, Industry and Mineral Resources. He said that Al-Falih has done excellent work in terms of diplomacy to keep the group together and bring achievements for the organisation.

"It takes connection, it takes travel and efforts, not only on part of the minister but on each member state to reach that conformity level," he said. "I hope that I will continue the good work that he has done, although it is not going to be easy, because we still have moving parts in the equation. The conformity level that has been achieved is great."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

shale oil producers are one of beneficiaries of current oil recover shale oil producers are one of beneficiaries of current oil recover

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

shale oil producers are one of beneficiaries of current oil recover shale oil producers are one of beneficiaries of current oil recover

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 15:08 2011 Sunday ,21 August

Masdar Institute nurtures academic excellence

GMT 08:29 2018 Tuesday ,23 January

France returnee Morgan Parra out with knee injury

GMT 22:05 2018 Thursday ,18 January

Tahir ul Qadri’s first show flopped: Asif

GMT 15:59 2011 Monday ,16 May

27 bodies found at Guatemalan farm

GMT 18:44 2016 Saturday ,03 December

Worst violence in 2 years rocks Libya

GMT 20:36 2016 Monday ,07 November

Australian woman abducted in Kabul

GMT 21:34 2016 Monday ,12 September

GCC voices concern over US JASTA

GMT 11:13 2017 Monday ,18 December

Lufthansa wants to 'destroy' Niki airline

GMT 12:08 2016 Thursday ,29 September

Novo Nordisk to cut 1000 jobs

GMT 12:52 2016 Monday ,14 November

As Delhi chokes, farmers defend scorched earth policy

GMT 02:13 2017 Tuesday ,24 October

Feb20/Mar20

GMT 09:54 2016 Thursday ,03 November

South Korean president risks probe, new PM nominee warns
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday