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The Middle East, the world’s only major source of low-cost oil, will remain at the core of the long-term prospects of the world oil market. The IEA went too far referring to the “shale hydrocarbon revolution born in the USA”. For the time being, the global energy landscape has not been turned upside down.

WHEN IMPORTERS TURN TO EXPORTING OIL AND GAS — THE SHALE GAS HYPE AND CERTAIN GEOPOLITICAL CHANGES LIE AHEAD IN THE EASTERN MEDITERRANEAN