In a joint post Art Berman and Matt Mushalik analyzed US crude oil inventories as reported by the EIA.
Articles: US oil production (22)
The latest EIA drilling productivity report (11th April 2016) shows US shale oil production continuing to decline in Bakken, Eagle Ford and Niobrara while the Permian has flattened out.
Contrary to general belief, and mis-information by the media the US is far away from being “energy independent” in terms of crude oil imports.
You want $40 oil? Yes, please. But according to the World Energy Outlook 2015 of the International Energy Agency, recently released in London, that would mean 3 mb/d less US tight (shale) oil by 2020.
Whatever happened to “peak oil” – the assertion that the rate at which oil is extracted from the Earth is nearing a maximum or peak level?
America’s energy future is largely determined by the assumptions and expectations we have today.
They say that the first casualty of war is truth. And, on both sides of the fight over lifting the ban on exports of U.S. crude oil, the truth has already fallen into a coma. The ban was instituted in 1975 in order to make America less subject to swings in international oil supply after …
U.S. oil production has begun to drop in response to low oil prices, but not as dramatically as many had anticipated.
As the price of West Texas Intermediate (WTI) retests the $40 per barrel (bbl) mark, some pundits are again calling for WTI to fall to $15 or $20/bbl.
Feel-good-outlooks make the TV audience happy, but sleepy.