Analyst firm: US shale oil has limited effect on oil price

The market does not seem concerned about the rising US shale oil production, writes analyst firm and oil trader Global Risk Management.

Photo: /ritzau/AP/LM Otero

The rising US production of shale oil seems to have had a limited effect so far on the oil price, writes analyst firm and oil trader Global Risk Management, which releases daily briefings on the oil price's development.

The firm notes that the price for a barrel of North Sea oil rose this Monday by USD 0.70 and has since continued the rise. According to Global Risk Management, this reflects growth in financial markets as well as a continued weak USD.

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