US shale set to make or break oPeC plan

摘要

London-The impact of any production freeze deal that OPEC is able to finalize at the end of November will largely hinge on how US shale producers respond to any price moves. A credible freeze that sends prices up to $55/b or beyond would quickly create an incentive for US drillers to reactivate rigs, limiting how far prices could rise in response to any OPEC production cuts.