Geelong Advertiser: OPEC's top official has said that the cartel's decision to keep pumping crude in the face of collapsing prices was hurting the US shale oil industry and that a global pullback on investment could lead to a shortage that will push the market upward again.
"Projects are being cancelled. Investments are being revised. Costs are being squeezed," Abdalla Salem el-Badri, the secretary general of the Organization of the Petroleum Exporting Countries, said at the Middle East Oil and Gas conference in...