Citigroup's Morse says US, Saudi, Russia will be "neck and neck" in crude production

Comments by Citigroup's global head of commodities research, Ed Morse

• US, Saudi Arabia, and Russia to be on par in oil output going forward
• No specific timeline on when that will be
• Markets now depend more on "call on shale" more than "call on OPEC"
• Non-OPEC producers such as US, Canada, Brazil will boost output this year and next

The story of the US starting to be on par with the Saudis and Russians isn't something new but it continues to highlight the fact that in that regard, shale producers are having more of a say on oil prices these days than OPEC does.