OPEC Splits Avocado Appetizer With Shale Adversaries in Texas - Bloomberg

OPEC Splits Avocado Appetizer With Shale Adversaries in Texas - Bloomberg:

OPEC’s secretary general met with senior executives from North America’s booming shale oil industry for dinner in Houston as the balance of power in global energy markets continues its swing to the U.S. from the Middle East.

The dinner Monday night included "a friendly conversation on current industry issues and the immediate prospects and challenges for all," OPEC Secretary General Mohammad Barkindo said in an interview after the meal. It marks the third consecutive year that rival producers have gathered on the sidelines of the annual CERAWeek by IHS Markit conference.

"We are not keeping oil prices at any level -- we just keep stability in the oil market," Barkindo said. "We are not worried about shale. What we are concerned about is orderly growth, orderly expansion, to meet current and future demand."