Oil prices will remain for some time remained largely unchanged at the current level

OPEC's May 31 meeting in Vienna, opened the impact of shale oil supply and demand for petroleum-related debates prologue.Ceramic proppant OPEC said it would maintain its goal of 30 million barrels of daily production levels unchanged, but the U.S. shale oil production continues to grow, and perhaps is rewriting the global oil trade patterns, exacerbated by OPEC's internal conflicts and to limit their collective capacity to respond. However, oil prices will remain for some time remained largely unchanged at the current level.

High oil prices, as well as " hydraulic fracturing " and several new technologies, making the United States and Texas, North Dakota, in a large number of oil shale resources can be mined. Now the U.S. crude oil production has risen to 21-year high. According to IEA estimates, future U.S. shale oil production will grow further.

The face of U.S. shale oil boom, as well as its future on the international oil market may impact OPEC difficult to resolve differences mainly internal coordination. Admittedly, the OPEC did indeed overcome in the face of external shocks to reach a series of internal disagreements production target. For example in 2008 after the outbreak of the international financial crisis, OPEC agreed to cut more than 400 million barrels day to support oil prices.

For the future of oil prices, combined with OPEC and the United States to analyze two aspects of shale oil, oil prices will remain for some time remained largely unchanged at the current level. First, because of difficulties in coordination, OPEC production cuts caused massive rise in oil prices is unlikely; Secondly, from the point of view of U.S. shale oil, and its development will indeed have an impact of global oil pattern,frac sand but this is a rather slow process, but also in demand as long as the oil market is rising, it is enough to digest the North American shale oil production.