Oil production growth outside Opec seen to slow this year as Opec price takes its toll on US shale frackers Opec has given the first indication that it may be winning its price war with US shale oil producers as it now forecasts that growth production outside the cartel will slow this year. The 12-member Organisation of the Petroleum Exporting Countries (Opec) said in its latest market report that producers outside the group will pump additional 1.28m barrels per day (bpd) in 2015, which represents a downward revision of 800,000 bpd from its previous estimate.
I used to be a holder of xel but sold @110p and bought blvn. It was a good move in as much as it reduced my average in blvn. If i was a holder of xel now ,i would seriously consider jumping ship to blvn , considering the news flow of both companies and the likely time scales. Under the present market conditions it raises doubt as to whether xel will be able to raise the cash to take the company forward.
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