Understanding Shale Oil And The Latest From OPEC
According to the U.S. Energy Information Administration --- shale is a fine-grained sedimentary rock that forms from the compaction of silt and clay-size mineral particles. Black shale contains organic material that can generate oil and natural gas, and that can also trap the generated oil and natural gas within its pores. Shale oil and natural gas resources are found in shale formations that contain significant accumulations of natural gas and/or oil. The oil and natural gas industry generally distinguishes between three categories of low-permeability formations: shale natural gas, tight natural gas and tight oil which can be produced from shale or other low-permeability reservoirs. According to an OPEC monthly oil report issued January 18, 2017 the report states that world economic growth for 2016 and 2017 has been revised up by 0.1 percentage point to stand at 3.0% and 3.2%, respectively. The OECD growth in 2017 was revised higher to 1.8%, following growth of 1.7% in 2016. China's forecast remains at 6.7% in 2016 and 6.2% in 2017, while India's growth in 2016 was revised down slightly to 7.2%, followed by growth of 7.1% in 2017. After two years of recession, both Russia and Brazil are forecast to recover in 2017 with growth of 0.9% and 0.4% respectively. To get more information on shale oil and the latest from OPEC click on the pictures below to read the articles.