Tuesday, October 11, 2016

US Shale Oil Seen Surging If Crude Reaches $60 -- Bloomberg -- October 11, 2016

Does any more need to be said? Data links: nope, nothing of interest.  A "dog bites man" story.

The biggest story not being reported: all the Canadian oil sands oil that will be coming on line 2016 - 2019.  A fairly long lead time is required to develop oil sands oil fields. When crude oil prices were high, the Canadians began a lot of oil sands projects in Alberta. They will start coming on line between now and 2017. Once at full capacity, Alberta oil sands could be adding another million bopd to the global glut.

And, no, OPEC won't cut production. 

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