Gulf oil production hits record - FT.com

Gulf oil production hits record - FT.com:

"

The Gulf states are producing more oil than ever before, defying expectations that the US shale revolution would break their 40-year grip on the global oil market and diminish their importance to the world’s consuming nations.
Surging production in North America is expected to eat into the market for oil from Opec. But the quartet of Gulf kingdoms that dominate the cartel of oil exporters have so far emerged unscathed. Instead, they have expanded their share of the world market as political and social factors have reduced production from a number other members."

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