Alexander Novak, Russia’s energy minister, left, Khalid Bin Abdulaziz Al-Falih, Saudi Arabia’s energy minister and president of OPEC, and Mohammed Barkindo, secretary general of OPEC, attend a news conference following the 172nd Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria.(Photographer: Akos Stiller/Bloomberg)

Shale Fight Makes OPEC Accept Lowest Market Share Since 1991

(Bloomberg) -- For almost three decades, OPEC has always pumped at least 30% of the world’s crude oil, creating an informal floor for Saudi Arabia and its allies in the cartel. The level has surviv...

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