OPEC's Barkindo: The future of US tight oil supply is uncertain

Below are the key highlights from the speech delivered by HE Mohammad Sanusi Barkindo, OPEC Secretary General, at the 5th International Energy Executive Forum 2018, 13 December 2017, Beijing, People’s Republic of China.

Change is an integral aspect of the nature of our industry.

The rebalancing of the oil market is currently well and truly underway-the end of this brutal oil cycle is finally in sight.

Sustainable oil market stability is crucial to attract the level of investment necessary for future demand growth.

In the longer term, oil will remain a vital and integral part of the energy mix.

Global energy and oil demand will grow in the long term.

The future of US tight oil supply is uncertain, with the complex interplay between technology, geology and economics playing a critical role.