Monday, March 16, 2015

Oil Drillers Won't Get Any Relief Until Late 2015 (At The Earliest) -- OPEC -- March, 16, 2015

The data for the wells coming off the confidential list today has been updated; the data is at this post. Click on the link or scroll down a bit.

Lying Through Their Turbans

Just the other day, a spokesman for OPEC said they were not targeting the frackers in North America.

Today, this lead story over at Reuters:
OPEC says low oil prices may hit U.S. output by late 2015
But they are watching the frackers closely, it seems:
U.S. oil output could start to take a hit by late 2015 due to low prices, OPEC said on Monday, suggesting the exporter group will have to wait beyond its next meeting in June to see if its strategy to defend market share will dent the shale oil boom.
In a monthly report, OPEC left its forecast for non-OPEC supply this year unchanged and said output of U.S. "tight" oil, also known as shale, might only start to be curbed towards the end of the year
"Tight crude producers are aware that typical oil wells in shale plays decline 60 percent annually, and that losses can only be recouped by drilling new wells," OPEC said.
"As drilling subsides due to high costs and a potentially sustained low oil price, a drop in production can be expected to follow, possibly by late 2015."
Is Afghanistan The New Forward Base For US Troops In The Mideast?

The AP is reporting:
The Obama administration is abandoning plans to cut the number of U.S. forces in Afghanistan to 5,500 by year's end, bowing to military leaders who want to keep more troops there, including many into the 2016 fighting season, U.S. officials say.
Don't Worry, Be Happy

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