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Exxona s Tillerson says OPEC not waging war on U.S. shale

2015-04-22 00:43:05| Chemicals - Topix.net

OPEC's refusal to curb oil production in response to the collapse in world crude prices is an attempt to find the most economic price for oil, not an attack on U.S. shale drillers, said Exxon Mobil's Chief Executive Officer Rex Tillerson. The Organization of Petroleum Exporting Countries is engaged in "a classic price-discovery exercise" after the revolution in shale-oil production turned global crude markets topsy turvy, Tillerson said Tuesday in a speech at the industry's annual IHS CERAWeek conference in Houston.

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