‘Severe unintended consequences’: OPEC threatens to kill US shale
OPEC is ready to produce at full capacity if the NOPEC (No Oil Producing and Exporting Cartels Act) bill is passed in Washington, an action that would likely kill the cash intensive US shale industry. The oil minister of the UAE, Suhail al-Mazrouei, reportedly told lenders at the meeting that if the bill was made…