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OPEC to Study U.S. Shale Oil Bonanza as Export Concern Grows

OPEC signaled growing unease with the U.S. oil boom by starting a study into shale at its meeting in Vienna, where the group kept supply targets unchanged as $100 crude dulls the need to address excess production.

“It is a concern,” Nigerian Petroleum Minister Diezani Alison-Madueke said yesterday after the session of the Organization of Petroleum Exporting Countries. The committee will consider the effect of shale oil on the global market for OPEC crude “in the not-too-distant future,” she said.