So Last year was the first decline in US Oil production in about seven years..
( https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFP... )
With 2016 production averaging about 8.8 myn bbls per day vs the 9.4 myn bbls per day we averaged in 2015.. but things may be looking up.. as we just surpassed last year's rig count.. ( http://www.wtrg.com/rotaryrigs.html )
( http://www.wtrg.com/rigs_graphs/rigus.gif )
I wonder with only $50 crude how high it will actually go?
.. sure seems like it drops pretty quickly when prices go down... golly crude was down yesterday wasn't it?
Edited by JonSCKs 1/10/2017 17:38
|