Saudi Arabia Does Not Consider U.S. Shale A Threat - Hedge Fund Alpha (formerly ValueWalk Premium)

Saudi Arabia Does Not Consider U.S. Shale A Threat

The US shale revolution can eat in to the market shares of producing nations in the Organization of Petroleum Exporting Countries (OPEC). However, recently, Saudi Arabia leadership has proclaimed they do not consider the rapid expansion in oil and gas output that US has been experiencing as a result of its shale growth a threat. Saudi Arabia’s deputy oil minister, Prince Abdulaziz bin Salman stated, “We need to make sure that the world economy comes out decisively on a growth pattern and, if that can be established, I think that the world economic growth will be sufficient to handle growth from...

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