Shale Oil Cutting Into OPEC's Market Share

Fox Business reports:

The U.S. shale oil boom will cut into OPEC’s share of the world market in 2014 even as global demand grows at its fastest clip in four years, according to the exporter group’s monthly report. The Organization of Petroleum Exporting Countries expects demand for its oil next year will average 29.61 million barrels a day, which would reflect a decline of 250,000 barrels a day from 2013 and 770,000 barrels a day from June.