Contents tagged with Shale oil
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Russian officials admit: Oil prices are set in the USA.
The president of the Russian oil producer,“Rosneft”, Igor Sechin, stated that shale oil production affects the structure of the world oil production and the flow of exports. “The decline in the oil prices is caused by the increase in the production of shale oil. Thus, the determination of the oil prices that was previously done by OPEC countries has moved to the USA, one of the biggest shale oil producers. This market has become the most important global regulator.” – Said Sechin.
According to …