The Red Queen Refuses To Get Off The Treadmill; Saudi Can't Push Her Off -- February 9, 2016

Updates

February 11, 2016: see IEA tweet below. Now EIA is reporting: initial production rates in tight oil formations continue to rise. At the link, one can toggle among the various shale plays. This is a screen shot of the Bakken play:

Regular readers are aware of this and understood what is going on in the Bakken.
 

Original Post 

Tweeting now: IEA says fall in US shale output taking longer than expected, with oil production expected to rise 20,000 b/d to 12.43 mil b/d for 2016.

"Longer than expected"? The Saudi surge/slump "officially" began October, 2014. That's almost 18 months ago. 

What we will be talking about Wednesday: Biden and Bloomberg. What will happen: Bloomberg jumps in before end of February.