Fracklog?There is no frack log.The US oil shales must drill 6000 weels per year just to keep the current production level never mind growth.Will 1000 US rigs idle and only 600 working US shale production is set to decline lle a stone and you can not put 1000 rigs back to work fast enough to reverse the delins as shale well run near dry in 18 months.
We are not in an oil glut but a sharp supply drop world wide is in the cards as we need to find 8 million bpd to just keep production levels were they are now as natural depleation of conventional fields decine by 5% per year.
COS has 90 years of reserves Suncor will buy it.