Opec intensifies competition against US shale producers
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
London
OPEC's latest challenge to US shale oil producers would be about two miles long, lined end to end, and weigh almost 3 million tonnes. It's due to reach American ports this month.
Iraq, the fastest-growing producer within the 12-nation group, loaded as many as 10 tankers in the past several weeks to deliver crude to US ports in November, ship-tracking and charters compiled by Bloomberg show. Assuming they arrive as scheduled, the 19 million barrels being hauled would mark the biggest monthly influx from Iraq since June 2012, according to Energy Information Administration figures.
Share with us your feedback on BT's products and services
TRENDING NOW
‘We’ve seen the worst-case scenario’: How Indonesia’s Cinema XXI navigated crisis and change
Malaysia tourism hit by fuel shock; tour prices may jump 50%
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
