Internal Clash At OPEC Over American Oil Production

Rigzone is reporting:

The evidence so far indicates that the revenues of African members, such as Algeria and Nigeria, are suffering the worst effects from the North American oil boom, while Gulf countries, notably Saudi Arabia, pass relatively unscathed.

So while Riyadh plays down the threat, Nigeria has deemed U.S. shale oil a "grave concern."

U.S. crude production has risen to a 21-year-high as a new combination of technologies has unlocked large resources of oil previously trapped in shale rock in North Dakota and Texas. In tandem, exports from three of OPEC's African members: Nigeria, Algeria and Angola to the U.S. have fallen to their lowest level in decades, dropping 41% in 2012, according to the U.S. Department of Energy.

I've blogged about this before. I misread the tea leaves in an earlier post. This article brings more clarity.

Memo to Nigeria: I think you have a problem. 

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For the truckers tonight:

Six Days On The Road, Dave Dudley