U.S. Oil Production To 'Bottom' In 2016 U.S. Oil Production To 'Bottom' In 2016 -- Market Talk
Published: Oct 15, 2015
U.S. oil production will "bottom" in the third quarter of 2016 before starting to recover, according to U.S. financial services company Raymond James & Associates. Pavel Molchanov, equity research analyst at the company says total liquids production, including natural gas liquids, will drop from its spring peak of 12.95 million barrels a day to 12.13 million b/d in 3Q of 2016. "A decline of 812,000 barrels a day is expected from peak to trough and the vast majority of the fall will be crude," he says. Mr. Molchanov adds the tight supply should push oil prices to over $60 a barrel by the end of 2016. (kevin.baxter@wsj.com)
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