The US shale revolution delivered many benefits to the US & the world (although not the "energy independence" ones the industry hyped relentlessly). But its best days are behind it now, write @[email protected] & @[email protected]:

“The aggressive growth era of US shale is over,” says Scott Sheffield, chief executive of Pioneer Natural Resources, the country’s biggest shale producer. “The shale model definitely is no longer a swing producer.”

And OPEC is dominant again.

https://12ft.io/proxy?q=https%3A%2F%2Fwww.ft.com%2Fcontent%2F60747b3b-e6ea-47c0-938d-af515816d0f1%3FshareType%3Dnongift

12ft |

@chrisnelder The Saudi's plan worked; they let prices fall in 2014 on to stop the frackers and they won
@harshal I don't think it's quite that simple but I think it's safe to say that OPEC is the main swing producer once again.