I hope texas can take down these wahabbi princes.
The EIA also said it expects production to decrease during this year’s third quarter, but not by much before increasing again if oil prices have recovered.
“The world’s largest oil exporters were not pleased with latest news coming from U.S. oil and gas producers: oil production keeps on rising.”
Just knowin’ it’s Pee’n off Obama.
That’s someone’s opinion “out of thin air”. I think Saudi Arabia knew exactly how the production was going to play out. I seriously doubt they are caught by surprise by any of this.
Now if this author can produce some quotes to that effect, this would make it a “real story” ... but he can’t ... so it remains a figment of his imagination.
There is a backlog of wells awaiting fraccing in ND, about 700 wells. When they go online, production will likely peak unless prices go up. The drilling rig count is down to 118 from over 200, and below the decline curve replacement level.
interesting, it ma take a while before oil gets back to 80
If production is increasing, why is there a prediction that gas prices are about to spike dramatically? Is that just the media screwing with us again - telling us what they want us to hear as opposed to informative “news”.
bookmark
This source does not require excerpting:
The world’s largest oil exporters were not pleased with latest news coming from U.S. oil and gas producers: oil production keeps on rising.
According to a report by The National, the recent decline in U.S. rig counts is leveling off and domestic production continues to increase. Imports from Canada are on the rise as well. This has resulted in a decreased demand for OPEC produced crude oil in the United States, further perpetuating the struggle for the global market share.
Last week the U.S. rig count fell to the lowest levels since 2011. Despite the decrease in rig count, though, production in North America’s largest shale oilfields has actually been increasing. Recently the U.S. Energy Information Agency gave a projected outlook for domestic production. In a statement the agency reported, “Projected 2015 oil prices remain high enough to support some development drilling activity in the Bakken, Eagle Ford, Niobrara, and Permian basin, albeit at lower levels than previously forecast.”
The EIA also said it expects production to decrease during this year’s third quarter, but not by much before increasing again if oil prices have recovered. Canada, home to some of the highest production costs in the world, has also seen an increase in output. While most of Canadian-produced crude is exported to the U.S., the Canadian National Energy Board reports that exports to other countries are on the rise.