29 May '16, 1am

Oil Production: Low And Heading Lower: Summary Oil prices have been generally higher recently, driv...

Oil prices continue to move higher and have been hovering around $50 per barrel after the EIA (Energy Information Administration) came out with a weekly report showing some mixed, but generally very positive, data regarding inventories, production and demand. In response to this, I’ve decided to look into the picture and discuss what it means for investors in companies like Memorial Production Partners (NASDAQ:MEMP ), Approach Resources (NASDAQ:AREX ), and Legacy Reserves (NASDAQ:LGCY ), as well as for those in the United States Oil ETF (NYSEARCA:USO ) and other oil-related ETFs. Mixed but positive inventory data The single most celebrated piece of data reported by the EIA for the week was the fact that crude inventories fell week-over-week. According to the organization, crude stocks came in at 537.1 million barrels for the period, down by 4.2 million barrels from the 541...

Full article: http://peakoil.com/production/oil-production-low-and-head...

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