OIL PRICE: OPEC + RUSSIA
PLATTS - The rise of US shale is "diminishing" the influence of OPEC, Russia and their allies, and the coalition would be better off leaving the oil market to its own devices, the International Energy Agency's executive director Fatih Birol told S&P Global Platts in an interview.
"Those days that oil markets, developments and prices are determined by resolutions, discussions and so on are over. There are very strong market forces now, mainly driven by the US shale revolution," Birol said in reference to OPEC's market management strategy.
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