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Opec price war offers meagre rewards as shale learns to survive

After two years of low price and Opec's policy U-turn, executives at Oil & Money conference in London are upbeat about shale's future

For Opec, there's cause for both celebration and concern. While it can claim it has successfully set a floor for prices, the resilience of its rivals means the ceiling may not be too far away.


WHEN the Organization of the Petroleum Exporting Countries (Opec) started its price war, the US shale boom looked doomed. Two years and one Opec policy U-turn later, executives at the annual Oil & Money conference in London painted an upbeat outlook for shale, with giants such...