OPEC, for some quiet moments..

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The emergence of shale technology, particularly in the U.S., is dramatically challenging the conventional rules of the global oil markets, according to Olivier Appert, president of the World Energy Council French Committee. Shale could become be the new ‘swing’ producer in setting the price of oil on global markets. “For the last 40 years, OPEC has been the major player in setting global oil prices because of its location within OPEC Countries, most specifically in the Middle East. It has been the ‘swing’ producer, increasing its production when markets are tight, and reducing quotas when there is over-supply,” Appert said. “However, in the last few years, with the advent of non-conventional shale oil and gas production in the U.S., the dynamics of the global market could be about to dramatically change.”

U.S. shale operators may be the new swing producers

The shale fields that propelled the U.S. energy boom are expected to take another step back next month as producers reduce costs in the midst of a bear market. Output from the prolific tight-rock formations, such as the Eagle Ford in southern Texas, will decline by about 92,000 bopd next month to 5.27 MMbopd, the Energy Information Administration said Monday. It’s the fifth straight month a slide is expected, after output more than tripled from 2007.

Shale oil output wanes as U.S. producers retreat in bear market

ConocoPhillips ended talks with PetroChina Co. on a shale gas development in the country after a two-year study. “The right commercial decision was to halt further discussions on this block,” ConocoPhillips’s China unit said in an emailed response to questions Wednesday. The company said it made the decision last year.

ConocoPhillips halts Sichuan shale gas talks with PetroChina

After years of languishing in a shale-induced coma, the U.S. natural gas market is waking up. Seasonal price swings will intensify as the country begins shipping liquefied natural gas cargoes to Asia and Europe later this year, said Bank of America Corp., RBC Capital Markets LLC and Wood Mackenzie Ltd. While that’s good news for traders yearning for volatility, it could be bad news for consumers.

Gas awakening from U.S. shale slumber as LNG shipments near