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Gloves back on, OPEC and US shale producers to deepen ties in Vienna

Updated : June 14, 2018 05:10 PM IST

The recent rise in crude prices - up more than 40 percent in the past year - has lifted profits for producers across the globe, but also threatens to erode demand for fossil fuels at a time when electrification is becoming commonplace.
OPEC and US representatives have met at least twice this year, with a third high-profile meeting set for Vienna next week.
Hamm, who called OPEC a "toothless tiger" in 2014, has begun encouraging fellow shale companies to focus more on profitability and less on profligate production.
Gloves back on, OPEC and US shale producers to deepen ties in Vienna

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