OPEC to Meet, What to Expect

OPEC members will meet in Vienna on Friday.  The pre conference rhetoric suggests a change in attitude towards U. S. shale producers.  OPEC Secretary-General, Abdullah El-Badri told delegates to a seminar on Wednesday, "Shale oil is a phenomenon that will stay with us. We have to live together and find a balance."  United Arab Emirates Energy Minister Suhail al-Mazrouei said, "We're not thinking or imagining or dreaming that shale oil producers are not going to be there. We want them to be. They are a very good balance for the market. We want everyone to share the responsibility of balancing the market."