IEA expects U.S. shale output rise if OPEC pushes oil to $60 

U.S. shale oil producers will increase their output if oil prices hit $60 a barrel, meaning OPEC will have to walk a fine line if it curtails production to prop up prices, the head of the International Energy Agency (IEA) said.OPEC members are due to meet in Vienna at the end of the month to push through the first output limiting deal since 2008.”If this decision pushes the prices up (to) around $60 dollars, we may well see a significant increase from shale oil from the U.S.,” Fatih Birol told Reuters on Wednesday.

Source: IEA expects U.S. shale output rise if OPEC pushes oil to $60 – Business Insider

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