OPEC's efforts to mop up global oil oversupply are good for Asia

Industry's growth is crucial for long-term energy security

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A drilling site in the Eagle Ford Shale area in Texas: shale producers are slashing spending and production targets. © Getty Images

Vandana Hari is founder of Singapore-based Vanda Insights, which tracks energy markets.

The argument that oil-hungry Asian economies will suffer as OPEC and its allies move to slash production and shore up prices is simplistic and flawed.

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