Cheap gas coming to an end as OPEC can't keep dumping on the market. Good news for the domestic drilling industry.
VIENNA — The new oil minister in Saudi Arabia, the de facto leader of OPEC countries, had a message for the global market: Don't expect us to influence the price of crude oil by adjusting supplies.
"I think managing in the traditional way that we tried in the past may never come again," said the minister, Khalid al-Falih. "Certainly we will not go with certain price targets.".....
https://www.news-journal.com/news/2016/jun/05/saudi-oil-chief-an-am-grad-tells-opec-changes-are-/
