[bert]

-——defying expectations that the US shale revolution would break their 40-year grip on the global oil market——

Was there any such expectation? I don’t think the oil flowing east from the Gulf would be curtailed.

There was expectation that the USA market would be lost, but not the rest of the world, at least not in the short term

[thackney]

Was there any such expectation? I don’t think the oil flowing east from the Gulf would be curtailed.

I don't think there has been the expectation OPEC would end. But as their production becomes a smaller percentage of the total, their ability to effect pricing with production quota's becomes more difficult.