LONDON (Bloomberg) -- Shale oil drillers will be hurt by the fall in crude prices before members of OPEC because their costs are higher, according to the group’s Secretary-General. As much as 50% of tight oil output will be “out of the market” at current prices, while the Organization of Petroleum Exporting Countries is not in a critical situation, Abdalla El-Badri said Oct. 29 at the Oil & Money conference in London.
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Shale oil drillers first to suffer from price drop, OPEC says
![Shale oil drillers first to suffer from price drop, OPEC says]()
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