“No Free Rides,” Say Saudi Officials to US Shale

By Zainab Calcuttawala Officials from Saudi Arabia – the de factor leader of the Organization of Petroleum Exporting Countries (OPEC) – told American oil producers this week that they should not expect the bloc to extend or increase its output cuts to make up for the jump in shale production in the United States, according to an exclusive report by Reuters. At the end of last year, the members of OPEC and 11 other nations agreed to cut their oil production for a combined total of 1.8 million barrels in order to correct the global oil supply glut that has…

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