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  • 标题:Saudis say OPEC+ oil cuts provided `lifeline' to U.S. shale
  • 本地全文:下载
  • 作者:Anthony DiPaola, Mahmoud Habboush ; Verity Ratcliffe
  • 期刊名称:World Oil Magazine
  • 出版年度:2019
  • 期号:1
  • 页码:1-1
  • 出版社:Gulf Publishing Co.
  • 摘要:ABU DHABI and DUBAI (Bloomberg) -- Saudi Arabia’s energy minister has no quarrels with U.S. shale and even sees output cuts by OPEC and its allies as directly aiding American drillers. “The action we have taken, quickly in December and that we’re seeing implemented as we speak, is a lifeline to U.S. shale producers,” Khalid Al-Falih said at a conference in Abu Dhabi. The Organization of Petroleum Exporting Countries, led by Saudi Arabia, agreed to cut oil output this year to support prices. The group and its allies, known collectively as OPEC+, said they would start to trim 1.2 MMbpd production this month to stabilize the market. They already reduced output by 600,000 bpd in December, Al-Falih said last week. Crude producers in the U.S. are pumping a record 11.7 MMbpd, according to the Energy Information Administration. Shale explorers need almost $54/bbl for their oil to eke out a profit because of rising costs for equipment, crews and raw materials needed to extract crude, according to JPMorgan Chase & Co. With oil prices rising, thanks in part to the Saudi-led cuts, that break-even level is in sight.
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