iven the urgent need for energy resources, many major energy-producing and consuming countries are seeking new sources to contribute to the sustainability of global energy supplies. The United States possesses vast reserves of unconventional oil and gas resources, such as shale formations and dense rocks. This research aims to highlight hydraulic fracturing technology used in developing unconventional hydrocarbon energy sources, the use of which requires favorable economic conditions, namely high conventional oil prices. The research problem stems from OPEC's disregard for the role of high oil prices, which have created opportunities for developing unconventional oil extraction technologies. The most significant finding of the research is that high oil prices have enabled the development of unconventional hydrocarbons and reduced OPEC's share of global oil production. The research recommends limiting price increases to levels that allow for the development of unconventional hydrocarbon resources.OPEC's share of global oil production. The research recommends limiting price increases to levels that allow for the development of unconventional hydrocarbon resources.
Jamal Mohammed Najeb (Thu,) studied this question.