Low US gas price spurs shale oil industry

The production of shale gas is expected to change the economics of the US natural gas market, but the recent fall in gas prices has opened up new opportunities for previously unexploited shale oil production.

A combination of advances in technology and current oil economics has increased interest in shale oil over the last year, but the most recent drop in gas prices has proved a further boost by encouraging some gas producers to switch to shale oil development. This is because the previous