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GRM: Shale boom will not lead to cheaper oil in 2014

A 2014 forecast by Global Risk Management states that the massive shale discoveries in the United States are unlikely to reduce the global oil price - rather, the shale discoveries will keep the oil price from increasing further.

The discovery and extraction of share oil in the US Midwest will not impact the oil price in 2014, even though production is under pressure in other places around the world and the demand from developing nations continues to rise, says Global Risk Management in its forecast for 2014.

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