Opec intensifies competition against US shale producers
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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.
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