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Jun 14, 2018 05:10 PM IST | Economy

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

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.
Published Date: Jun 14th, 2018 05:10 PM | Updated Date: Jun 14, 2018 05:10 PM IST

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