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Monday, 22 May 2017

Why the Permian Basin Is OPEC's New Headache: QuickTake Q&A - Bloomberg

Why the Permian Basin Is OPEC's New Headache: QuickTake Q&A - Bloomberg:

"A dry expanse straddling the Texas-New Mexico border has become such a bounty of energy that it’s now a threat to OPEC. Surging output from the Permian Basin, which has been described as a layer cake of oil and natural gas, is projected to help push U.S. crude production to a record next year, making it harder for members and partners of the Organization of Petroleum Exporting Countries to move prices higher and lower by controlling the supply to the world. As technology improves, and geologists learn more about what’s underground, estimates of Permian reserves steadily increase."



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