U.S. Oil Production now on steady decline
Posted: Tue Sep 29, 2015 10:25 am
This article may help you understand the EIA's various production reports. Very important that investors understand that the EIA's weekly numbers are "estimates". The only real data is 3-4 months old on the EIA website.
https://rbnenergy.com/what-goes-up-when ... to-decline
Most important point is that U.S. oil production is now declining by more than 100,000 barrels per day each month and it will keep declining for several months after WTI gets back to $70/bbl. We need AT LEAST 1,000 rigs drilling for oil to keep U.S. oil production flat.
https://rbnenergy.com/what-goes-up-when ... to-decline
Most important point is that U.S. oil production is now declining by more than 100,000 barrels per day each month and it will keep declining for several months after WTI gets back to $70/bbl. We need AT LEAST 1,000 rigs drilling for oil to keep U.S. oil production flat.