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Fri Mar 15, 2019, 10:55 AM

U.S. Oil Production Is Headed For A Quick Decline

The most recent forecasts published by the US Energy Information Administration show US oil production increasing steadily. The February Short-Term Energy Outlook sees the output from US wells rising from 11.9 million barrels per day at the end of 2018 to 13.5 million barrels per day by the end of 2020. Most other forecasters agree.

Thus, it may come as a surprise to learn that production at the end of 2020 may have actually decreased from December’s 11.9 million barrels per day level to between 11.3 and 11.5 million barrels per day. This lower figure represents the production level that should be expected given the financial activity of the independent firms behind the shale output surge.

The coming decline will occur mostly in the areas that have produced the most growth over the last five years: the Bakken, Eagle Ford, Haynesville, Julesburg, and Permian basins. The production drop will occur because the firms operating there have been forced by monetary constraints to cut back on drilling. The recent reduction in debt and equity issuance by these firms assure the output decline.

https://oilprice.com/Energy/Crude-Oil/US-Oil-Production-Is-Headed-For-A-Quick-Decline.html

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Reply U.S. Oil Production Is Headed For A Quick Decline (Original post)
OnlinePoker Mar 15 OP
SWBTATTReg Mar 15 #1
hunter Mar 15 #2
OKIsItJustMe Mar 15 #3

Response to OnlinePoker (Original post)

Fri Mar 15, 2019, 11:05 AM

1. Another boom and bust cycle. What's new? NT

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Response to OnlinePoker (Original post)

Fri Mar 15, 2019, 01:04 PM

2. Venezuela has oil...


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Response to hunter (Reply #2)

Fri Mar 15, 2019, 06:53 PM

3. Oh, sure, that's what they said about Iraq...

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