Iraqi Vice President Ayad Allawi called for a meeting of OPEC and producers elsewhere to discuss how to push up oil prices and respond to the rise of shale oil.“
Shale oil and shale gas will have an impact on the future situation in general. That’s why the time has come for a meeting, possibly a summit meeting, for all producers, OPEC and non OPEC. OPEC should reconsider the situation and enter into dialogue with the states that are outside OPEC so that there can be a unified position in favor of their populations without exception,” - Bloomberg cited him.
According to Allawi, prices will remain at $40 to $50 a barrel this year, then start rising to between $60 to $70 a barrel next year, TASS reports.
He also said that oil exports through the northern Kurdish region of Iraq will rise to 400,000 barrels a day this year from current levels of about 150,000 barrels a day.
