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Natural gas flares from the oil production in the Bakken shale formation, in North Dakota, U.S.

The disruptive power of American tight oil

The shale revolution in the United States has transformed the domestic oil industry and global oil markets. Tight oil has both increased supplies and shortened the reaction time of production to prices, with the U.S. industry proving more resilient than many expected. New competition has reduced the leverage of other producers like OPEC and shrunk the geopolitical risk factor in oil markets. 

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