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OPEC wants to talk with rival US shale drillers to learn lessons of downturn

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OPEC wants to have an open dialogue with upstart U.S. shale drillers and learn from oil market players, after the most painful downturn in six oil price cycles.

OPEC Secretary General Mohammad Barkindo said he planned to meet Monday evening with shale produces, after an initial meeting at the conference a year ago. The meeting is not about prices or production cuts but about technology and production outlooks, he said.

"There's a very rich lesson to be learned from producers in this basin," he said of U.S. shale plays. Barkindo was speaking at the annual CERAWeek energy conference in Houston, attended by 3,500 participants from around the world.

The OPEC general secretary was also meeting with hedge funds and other financial market players in a follow up to meetings last year at CERAWeek and also in New York.


Source :- abcnews
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