So, is the following another way of saying that U.S. shale won? A story at oilprice.com reports that the new OPEC production deal acknowledges a permanent shift in oil markets:
"OPEC appears to have finally given up the dream of crushing U.S. production and returning to a world in which the Cartel controlled the market.
"US producers may not be the lowest cost producers, but could well be the most flexible producers.
"OPEC’s actions did succeed in stalling new investment in future reserves development, but this hit both unconventional and conventional production in nearly equal measure."
Read the full story here.