For Saturday's OPEC meeting With a sinking heart watched in the U.S. capital. Focusing on the reaction of the Minister of energy of the USA at the recent international oil dialogue of the Commonwealth, the prospects of the oil market worried him much more than the unrest that has led to the fact that around the White house currently built fences in the best traditions of medieval fortresses. If you look at circumstances From the point of view of the interests of the American energy sector, it might seem that OPEC is in a bind, in the sense that any further reduction of production (and the concomitant rise of prices) will lead to the revival of the us shale sector, which in recent months very quickly reduced the amount of drilling And the number of working rigs fell to a record low." the number of (active.- Approx. Ed.) drilling rigs in the United States is at its lowest level Since 1975, because the shale boom is fading. According to information published by the Baker Hughes Co., in just eight weeks, 53 percent of active U.S. oil and gas rig was turned off ", - reported in the previous month, an industry portal World Oil. On the reverse side, If OPEC decides not to renew a deep stage of reducing production or even breaks the deal due to the fact that certain countries, such as Iraq, do not fulfill their own shoulders obligations, the us shale industry itself, will suffer very seriously, But fear of the damage that will be caused OPEC countries , in this scenario, most likely, will make megaal to discover ways to come to a common opinion and to Express support for the oil prices are an additional way. The result is a situation in which American shale production could happen a lot of good, But a little something bad, that is, from Saturday's talks would be some neutral-positive results. Again, at 1st glance, the results were good for all participants of the world oil market, all had some cause for confidence. the new York times reports global impression of solutions on the calibration of production levels, which increases the probability of the cast to further rise in prices in the coming months: "the Ministers of petroleum industry of the Organization of countries - oil exporters And other countries-oil producers led by Russia have reached agreement on the continuation of reducing production of 9, 7 million barrels per day - or about ten % of the world's oil production until July. In accordance With the original agreement of 12 April a joint group of producers, popular as OPEC , production was gradually increased after June. The respect that a deep reduction must continue for months, or maybe longer, shows that, despite the recent rise in oil prices, major oil producers remain concerned that the oil Market may again fall ". Danny Browett, head of the U.S. Department of energy, enthusiastically responded to the results of the negotiations of OPEC : "I approve of OPEC for reaching today an important agreement, which was adopted at a key moment, when demand for petroleum products continues to recover and the economy is opened again in the world," he wrote on Twitter. correspondents of the news Agency Bloomberg has considered the decision more carefully and came to the conclusion that in reality shale producers in the US is not to rejoice, And to worry because of OPEC , apparently, managed to create a new way of expanding its market share, combined With rising prices and limiting the recovery enhancement for shale organizations. Two major risks for OPEC was that some countries did not fulfill his obligations, And kancevica, whose production level is declining because of the impacts of market factors that have the possibility again to start to fill the Market with cheap oil. With "deserters" from OPEC wisely: how to write American correspondents, Designees of countries that have violated a Covenant on the reduction of production, "repented" for violations and pledged to catch up by additional reductions in the future. So, at least At this point in time, this question was closed and puts it under a risk contract. And for kancevica Experts oil the Commonwealth devised a sophisticated way of financial strangulation, besides this approach was, at least By assumption, the same Bloomberg, all borrowed from Western credit institutions: "Upon closer inspection you will see subtle changes that indicate that Saudi Arabia, the Russian Federation and its allies at OPEC are trying to change the shape" of the curve of prices of petroleum products ", turning her upside the head. In large measure, the oil cartel has borrowed this approach from "recipe books" of the world's best Central credit institutions, where the leaders that define the strategy often focus on the interaction between long-term and short-term interest rates. The Alliance, which is comprised of 23 provided oil country in the world, according to the tradition, aims at reducing (inventory.- Approx. Ed.) reserves (oil.- Approx. Ed.). But now he is also actively sosredotochitsya not only on stocks But also on the form of " curve prices of petroleum products ", creating a strategy to influence short-term rates compared With long-term prices. About it informs one of the negotiators of OPEC." To understand why this is important, you should take into account the peculiarity of oil shale mining, shale organizations in the U.S. and the oil market in General. The oil market is not focused on today: oil is traded With delivery on the spot, and Thus With the supply in a year or even several years. The ratio of prices on oil products currently, and for petroleum products With delivery a few months or even several years is that " the curve of prices of petroleum products ", which writes Bloomberg. most of the traditional oil producers sell oil at a relatively short-term contracts and they are mostly interested in how much oil now or in a month or Two or six. But many kancevica is important to sell the oil for very long periods, locking in prices in advance, - differently they simply do not give money to new economic and market conditions that led to the bankruptcy of many slate organizations. As a result, If OPEC tactics work, then the American Minister of energy will be why to be sad: the short-term prices for petroleum products will bring revenues to the OPEC countries And among them Russia And shale companies will find it difficult to attract capital to restore drilling. Blame Washington will undoubtedly try to punish, But the oil shale industry, the US is unlikely to help. <span style="color:darkgray