SHEIKH VS SHALE

OPEC is worried that US shale oil and gas would erode the dominance of crude oil in the global energy mix

In January 2017, OPEC countries decided to cut oil production to prevent the slide of oil below $40 a barrel

The continuous rise in US shale production last year offset part of the OPEC–Russia production cuts and capped oil price gains

Saudi Arabia along with Qatar, Angola and Kuwait is pushing for a further cut in oil supplies along with non-OPEC countries like Sudan, Brunei and Mexico