In an interview given to Sky News Arabia, Dr Carole Nakhle, CEO of Crystol Energy, discusses the impact US tight oil has had on global oil markets, referring to the fast response of its production to prices unlike conventional oil where supply is known for being inelastic. Despite the continuous skepticism about its future since its inception, tight oil continues to surprise on the upside.
Dr Nakhle also discusses the changing industry structure in shale, where many small players are struggling financially but their struggle may be more than compensated for by the entry of the larger players the likes of BP and ExxonMobil which will further support the continuous growth in shale. Not surprisingly, the IEA forecasts tight oil to be the biggest contributor to supply growth in the next 5 years.
Watch the full interview (in Arabic)
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