OPEC's power recession

OPEC recently held a meeting in Vienna, three weeks after the end of the meeting, OPEC oil shale in the global oil and gas market dominance effects, not yet reached a final conclusion. Experts believe that the U.S.  shale gas  revolution indeed interfere with OPEC's control of the global crude oil prices, but the specific impact is unclear.

University of Texas at Austin, Department of Geological Sciences, Professor William Fisher said: "I ​​do not think this is the end of OPEC, nor that prices will be reduced to 50 U.S. dollars / barrel, but I am also very sure that oil prices will not exceed $ 100 / barrel. "Professor Fisher with many of my colleagues share the same basic point: Although OPEC as an organization as a whole can not dictate prices,frac sand companies but Saudi Arabia still can.

In an interview, Professor Fisher said, "OPEC mainly in Saudi Arabia as the center, and only through the increase or decrease in production in the country has the ability to influence oil prices." Fisher served in the U.S. during the reign of former President Gerald Ford as the Ministry of Energy and Mineral Resources Deputy Minister, witnessed OPEC,Proppant especially Saudi Arabia, how in a relatively short period of time manipulation of global oil prices. He said that apart from Saudi outside OPEC production together with lower oil price manipulation days are over.