It is a wave of the white flag by OPEC, and likely a strategy shift that will last for years. And it's hard to see anything but upside from this move for America's shale oil industry.

By Alex Lawler LONDON (Reuters) -OPEC said on Tuesday that oil demand in 2022 faced challenges from Russia’s invasion of Ukraine and rising inflation as crude prices soar, increasing the ...

In 1960, frustrated by Western control over the world’s oil industry, five of the world’s top oil-producing nations created the Organization of the Petroleum Exporting Countries, or OPEC.