04-14-2015, 03:22 PM
4-13-2015
Here it comes.
They call it "re-balancing"
The oil thugs are already hinting there is no oil on purpose, prepare to bend over baby once again:
The shale oil boom that pushed U.S. crude production to the highest level in four decades is grinding to a halt
Output from the prolific tight-rock formations such as North Dakota’s Bakken shale will decline 57,000 barrels a day in May, the Energy Information Administration said Monday. It’s the first time the agency has forecast a drop in output since it began issuing a monthly drilling productivity report in 2013.
Deutsch Bank AG, Goldman Sachs Group Inc. and IHS Inc. have projected that U.S. oil production growth will end
The plunge in prices has already forced half the country’s drilling rigs offline and wiped out thousands of jobs. The retreat in America’s oil boom is necessary to correct a supply glut and rebalance global oil markets, according to Goldman.
The numbers of oil rigs in service across the country slid 42 last week to 760, the fewest since December 2010
Deutsche Bank forecast in a research note last week that production in May will mark “an important inflection point for the U.S. oil market.”
Advances in oil-drilling technologies are no longer enough to offset the rigs being idled by U.S. producers
“The deceleration in U.S. output has been greater than the market is currently pricing in,” Horsnell said in the report. “Global rebalancing is in full swing.”
Here it comes.
They call it "re-balancing"
The oil thugs are already hinting there is no oil on purpose, prepare to bend over baby once again:
The shale oil boom that pushed U.S. crude production to the highest level in four decades is grinding to a halt
Output from the prolific tight-rock formations such as North Dakota’s Bakken shale will decline 57,000 barrels a day in May, the Energy Information Administration said Monday. It’s the first time the agency has forecast a drop in output since it began issuing a monthly drilling productivity report in 2013.
Deutsch Bank AG, Goldman Sachs Group Inc. and IHS Inc. have projected that U.S. oil production growth will end
The plunge in prices has already forced half the country’s drilling rigs offline and wiped out thousands of jobs. The retreat in America’s oil boom is necessary to correct a supply glut and rebalance global oil markets, according to Goldman.
The numbers of oil rigs in service across the country slid 42 last week to 760, the fewest since December 2010
Deutsche Bank forecast in a research note last week that production in May will mark “an important inflection point for the U.S. oil market.”
Advances in oil-drilling technologies are no longer enough to offset the rigs being idled by U.S. producers
“The deceleration in U.S. output has been greater than the market is currently pricing in,” Horsnell said in the report. “Global rebalancing is in full swing.”