Shale oil refers to oil that is trapped within fine-grained sedimentary rocks, called shale. It is a type of unconventional oil that requires special methods, such as hydraulic fracturing, to extract it from the rock. Full definition
Crude prices held firm, underpinned by robust demand forecasts and prospects for informal contacts sought by OPEC with U.S. shale oil producers at a key industry meeting in Houston this week. (cnbc.com)
Despite the gusher of U.S. shale oil production, Grantham believes that prices are likely to reset higher again — to a baseline above $ 100 — because, outside of shale, finding new oil is getting harder. (fortune.com)
Reuters: The U.S. government on Tuesday jacked up its forecast for oil production next year by 250,000 barrels per day (bpd) as the boom in shale oil drilling continues to confound expectations of slower growth. (energytomorrow.org)