(DENVER, C0) — Richard Fisher, president of the Dallas Federal Reserve, didn’t mince words Feb. 11 when he said that OPEC “engineered” the drop in oil prices to put U.S. oil producers out of business. But Fisher is not the only one to call out OPEC for taking aim at U.S. shale: Dan K. Eberhart, CEO of oilfield services company Canary, LLC, picked up on OPEC’s provocative actions months ago.
“What’s shaping up is a ‘battle royale’ between the U.S. shale producers and OPEC,” Eberhart said during a Dec. 2 interview with CNBC. “It’s a case of who’s going to blink first. I think OPEC, by deciding not to change their production quota, is betting on the U.S.”