UAE’s OPEC Exit Exposes US Shale to Major New Rival
Abu Dhabi’s move means another large, low-cost operator is ready to vie for market share.
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Welcome to our guide to the commodities driving the global economy. Today, senior oil reporter Kevin Crowley reflects on the UAE’s shock decision to leave OPEC and explores what it may mean for rival shale producers in the US.
A decade ago, OPEC started a price war aimed at wiping out the American wildcatters who posed a threat to its grip on global oil markets.