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OPEC Not Opposed to Shale Oil: Secretary General

© REUTERS / Heinz-Peter Bader OPEC Secretary-General Abdullah al-Badri addresses a news conference after a meeting of OPEC oil ministers at OPEC's headquarters in Vienna November 27, 2014
OPEC Secretary-General Abdullah al-Badri addresses a news conference after a meeting of OPEC oil ministers at OPEC's headquarters in Vienna November 27, 2014 - Sputnik International
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The Organization of Petroleum Exporting Countries Secretary General Abdallah el Badri said the organization welcomes shale oil as another additional supply.

OPEC ministers and delegates gather for a meeting of the Organization of the Petroleum Exporting Countries (OPEC) at its headquarters in Vienna, Austria. - Sputnik International
OPEC Decides to Keep Oil Output Unchanged: Kuwait Minister
MOSCOW, November 27 (Sputnik) — The Organization of Petroleum Exporting Countries (OPEC) does not oppose shale oil, its secretary general said ahead of the cartel's meeting Thursday.

"We welcome shale oil as another additional supply and we don't really have a clash," OPEC Secretary General Abdallah el Badri told reporters in Vienna.

El Badri's comments came in response to claims of a possible confrontation between OPEC and the United States, a leading shale producer and the main catalyst behind falling global oil prices. Brent crude futures were trading at $76.52 Thursday morning, reaching a four-year low and marking a 30-percent drop since June.

An OPEC meeting was held in Vienna on Thursday, where the member countries gathered to discuss a possible curb of oil output amid the falling of oil prices on the global market. However, the group decided to maintain oil extraction at current levels.

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