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Oil sector heads into new world order

Leaders gathering in Houston next week for IHS CERAWeek conference will have much to discuss

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STILL PUMPING: The one thing that the stress on oil companies has not done is destroy production. Engineers have found ways to lower costs and boost output at wells, keeping enough rigs active so that output is still within 5% of last year's high.

Houston

THE Saudis may go public, the Organization of the Petroleum Exporting Countries (Opec) in disarray, the United States is suddenly a global exporter, and shale drillers are seeking lifelines from investors as banks abandon them.

Welcome to oil's new world order - full of

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