Shale boom, oil price dominate Houston energy conference
Opec reaches out to US shale producers at CERAWeek to hold global prices but cartel is fighting a losing a battle
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Houston
THE world's largest oil producers appealed to US shale producers to join their efforts to hold global prices at current levels at a major energy conference on Monday, as the boom in shale is continuing to undermine Opec's production curbs.
The Organization of the Petroleum Exporting Countries' secretary-general Mohammed Barkindo said on Monday at the CERAWeek conference in Houston that there is a "common understanding" between oil-producing nations and US shale producers that "we all belong to this industry", even as US exports have eroded Opec's market share over the last year.
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