Saudi Arabia Does Not Consider U.S. Shale A Threat

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Hira Shahnawaz Akhtar
Published on
Updated on

The US shale revolution can eat in to the market shares of producing nations in the Organization of Petroleum Exporting Countries (OPEC). However, recently, Saudi Arabia leadership has proclaimed they do not consider the rapid expansion in oil and gas output that US has been experiencing as a result of its shale growth a threat. Saudi Arabia’s deputy oil minister, Prince Abdulaziz bin Salman stated, “We need to make sure that the world economy comes out decisively on a growth pattern and, if that can be established, I think that the world economic growth will be sufficient to handle growth from…

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.