The Organization of the Petroleum Exporting Countries is not particularly concerned about the rise of shale gas production in the U.S., the group's secretary general said Thursday.
The Organization of the Petroleum Exporting Countries is not
particularly concerned about the rise of shale gas production in the
U.S.
, the
group's secretary general said Thursday.
Growing demand from Asian countries would ensure there is room for different
sources of energy, whether coal, gas or crude oil, Abdalla El-Badri said at a
press conference held after the release of OPEC's World Oil Outlook report.
He also said the OPEC members always sought a balanced price for their oil, one
that was neither too high, nor too low, and that they were watching the
situation in the market carefully.
"If we see something out of control we will act accordingly," Mr.
El-Badri said.
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