21 Sep '15, 8am

Opinion: This Is What Needs To Happen For #OilPrices To Stabilize

Opinion: This Is What Needs To Happen For Oil Prices To Stabilize 21 September 2015 by Dan Doyle for Oilprice.com Dan Doyle is president of Reliance Well Services, a hydraulic fracturing company based in Pennsylvania. On September 10th , the EIA reported a production decline in the Lower 48—essentially shale production—of 208,000 BOPD (barrels of oil per day). That is a staggeringly enormous number, approximately 10 percent of the estimated global over-supply. Additionally, it was a week-over-week number which makes it all the more impressive. Yet it received little attention through the week. Rather, Goldman Sachs was grabbing all the headlines with its $20 call on oil. This week, I was looking for a possible correction in that number with a zero decline or possibly even a gain (remember, the EIA numbers are estimates). But instead we got another decline of 35,000 BOPD. B...

Full article: http://www.greencarcongress.com/2015/09/20150921-doyle.html

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