RE:RE:RE:RE:RE:Picked up some cheap shares at 1.72ERTguy wrote, "Shale oil is currently pumping out 500k more barrels of production than it was in July of 2016."
I believe your statement is wrong. US production is 500k higher due to an increase in Gulf of Mexico production not shale. This is due to additional fields coming into production and fields coming out of summer maintenance - the EIA predicted this in February 2016. It has nothing to do with the price of oil or US shale. The fall in US shale has levelled off and by EIA estimates is starting to rise. But it is a long way off recovering 500k of production.
londoner7