New oil bull market in sight as Brazil, Iraq cut output targets

LONDON (Reuters) - Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years, leading to a price spike that would give a new boost to the U.S. shale industry.

Fracking is turning the US into a bigger oil producer than Saudi Arabia

Hector Gallegos sits in the cab of his pick-up enjoying a few hours of calm.