How shale rewrote the global oil order

For decades, countries in the Middle East have dominated the oil market, pumping large quantities of the world’s supply. Along with that has come a pattern: when there’s conflict in the region, oil prices rise. The pattern seems to be breaking though, mainly because of one thing: US shale. The FT’s Myles McCormick explains how production in the country shifted oil’s epicentre away from the Middle East, and how long that may last. Clips from Al Jazeera, CBS, CNN- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:How US shale keeps sheltering America from the next oil price surgeOn markets and geopolitics, it is a mistake to forget about shaleWhy oil prices remain steady even as Middle East tensions escalate- - - - - - - - - - - - - - - - - - - - - - - - - - On X, follow Myles McCormick (@mylesmccormick_) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.