February 2016, Vol. 243, No. 2

Web Exclusive

Shale Primed to Decline Substantially this Year

U.S. shale has weathered the oil crash better than many expected, but the stubborn persistence of low prices through 2016 could amount to the “straw breaking the camel’s back” for shale production. The International Energy Agency released its Medium Term Oil Market Report on Feb. 22 at the IHS CERA Week conference in Houston, an annual confab for the elite of the oil industry. In its report, the IEA sees U.S. shale finally capitulating this year, falling by 600,000 bpd, plus another contraction of 200,000 bpd in 2017. By then, oil prices should rebound as supply and demand converge. But, it won’t be the end of U.S. shale, the IEA says. “Anybody who believes that we have seen the last o

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