RE:US Weekly Oil Production now fallingReally ? Less than 40,000 BOPD out of a total of 9.422 Million BOPD ?!? That is almost within metering error bands ! A drop in the bucket..... no material impact at all.
Now, flooding the market with another 2 + MMBOPD (internationally) would be a game changer !
https://www.marketwatch.com/story/oil-prices-ease-on-uncertainty-around-iran-nuclear-talks-2015-04-02
Unfortunately for us in the oil and gas business, oil is going down further. Futures already down. Next week will be ugly.
Hint: Most of our 'natural gas glut' is due to associated gas coming from all this added oil production. A by-product. As oil production drops, so does nat gas supply and with all the increasing use of Nat Gas to replace coal in NA, for power generation, future LNG export, etc... look for Nat Gas prices to rise. May help Nat Gas leveraged producers.
SD
SD