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Monday, 7 November 2016

Opec risks handing US shale drillers a gift with cut

Opec risks handing US shale drillers a gift with cut:

"Has US oil production hit bottom?

Answering yes is a risky call. After all, oil markets are still depressed. Closely followed forecasters including the International Energy Agency and Opec believe volumes will fall in both 2016 and 2017. 

But the industry’s surviving companies, having hunkered down during the crude rout, are regrouping. Earlier forecasts for a slide in US output look dubious in light of recent statistics. "



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