ChatterFrom the IEA today and the conference going on in Texas is that American production is declining more than in any country in the world. The IEA projects U.S. decline by 600 000 b/d from highs and another 200 000 down in 2017. Other commentators such as Daniel Yergin feel that Iran will produce at a lot lower rate than has been reported in the media. The second half of this year should see stronger prices . It appears that we are bouncing of a bottom as the short side is losing momentum.