Commodity Trade Mantra

Posts Tagged ‘Shale Patch’

Stop Blaming OPEC For Low Oil Prices

Why do we expect OPEC to cut oil production? The US has aggressively increased output. Much of the responsibility for the crash in oil prices stems from a massive increased output in the US shale patch, by around 4 million barrels per day between 2011 & the peak in 2015, nearly doubling production from 5.6 million barrels per day (mb/d) to 9.6 mb/d.

Oil Price Recovery May Be Too Much Too Soon

The rise in oil prices over the last few weeks has been so rapid that few predicted it. Speculators have raised their bullish bets to the highest level in years. The optimism may not be justified. In the past, bets to such a degree have often been followed by a fallback in prices. Oil inventories are still at 80 year highs.

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