Advertisement Continue reading the main storyThe American shale industry today, however, is far more efficient. Advertisement Continue reading the main storyNow, OPEC’s biggest worry is a revival of American shale production, presenting the bloc with a thorny problem as it considers its own market moves. Newsletter Sign Up Continue reading the main story Please verify you're not a robot by clicking the box. Advertisement Continue reading the main storyAn Erosion of CloutIn decades past, an OPEC decision to curb or increase production had wide consequences and would move markets. Knowing that cuts were on the horizon, OPEC members increased production before they were implemented, which meant they were starting from an artificially high base.

Source: New York Times May 25, 2017 04:00 UTC