The US companies managed to improve the technologies of well operation.

Within the next five year, the shale revolution in the USA will have a significant impact over the global oil market and oil prices. Because the shale deposits are the biggest threat to any attempts to achieve price stability, as it is said in the investigation of IMF experts, Correspondent.net reports.

“The increased oil production from shale deposits in the USA can rapidly reduce to nothing the most of, if not the whole, reduction of production by OPEC and non-OPEC countries, because in the case of shale deposits, the extraction from oil wells can start within one year after making initial investments, unlike the regular investments in oil production, which start paying off only in several years”, according to the investigation.

It is noted that by February 2017, the investment in US oil sector, measured by the number of operating drilling installations, reached the highest level since November 2015.

“In addition, the threat from the oil from shale deposits increases due to the improvement of effectiveness of the operation of US producers thanks to perfection of their operations and improvements in the selection of operating wells”, IMF noted.

As Correspondent.net reports, OPEC can refuse from the reduction of oil production and will not prolong the agreement. The development of extraction of shale raw materials in the US, which OPEC wants to suspend, became the reason for such decision.

It was also reported that Russia fulfills the agreement with OPEC for only 40%.