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US shale to get a seat at the OPEC table

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US shale companies, faced with obliteration from the global market, are eyeing an unprecedented step: joining forces with Saudi Arabia and Russia on production cuts.

When OPEC and Russian-led producers meet for emergency talks on Monday, “an invitation to US producers is a strong possibility,” a Gulf-based economist told Asia Times on condition of anonymity.

“We’ll invite them as the main oil producer in the world,” a source involved in the planning of the meeting told Russia’s TASS news agency.

TASS specified that the invitation to join the video conference would go to a “US oil regulator”.

That regulator appears to be Texas Railroad Commissioner Ryan Sitton, who on Thursday said he had spoken with Russian Energy Minister Alexander Novak on engaging in “unprecedented” cooperation.

Saudi Energy Minister Abdulaziz bin Salman would be his next call, Sitton said.

Should the three sides end up joining forces on global production cuts, it will be unprecedented.



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