Pantheon Macroeconomics - Outside the U.S., global oil production is dominated by national oil companies, which are effectively arms of their states. State actors respond differently to private oil producers when prices fall, especially in states where oil revenues are the key element of government cashflow.

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16 Feb. 2016 The Great Shale Oil Crunch is Underway - Production is Falling

By Ian Shepherdson

Outside the U.S., global oil production is dominated by national oil companies, which are effectively arms of their states. State actors respond differently to private oil producers when prices fall, especially in states where oil revenues are the key element of government cashflow.

Posted: 16th Feb 2016 in 'U.S. Documents'

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