OPEC Sees U.S. Shale Production Growth Slowing

November 15, 2002--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Economists at the Organization of the Petroleum Exporting Countries (OPEC) said they're expecting an uptick in U.S. crude oil production, though the pace of growth is slowing. OPEC, in its monthly market report for November, said upstream activity in the U.S. is improving and no longer limited to key production centers such as the Permian Basin. That aligns with sentiment seen this quarter from upstream players such as Halliburton (NYSE:HAL) (Houston, Texas) and Baker Hughes Company (Houston).