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Title : The Crude Oil Market Still Needs Another 18 Months To Re-Balance -- August 6, 2017
link : The Crude Oil Market Still Needs Another 18 Months To Re-Balance -- August 6, 2017

The Crude Oil Market Still Needs Another 18 Months To Re-Balance -- August 6, 2017

I'm not going to look for the posts, but I've always suggested that the prices operators paid to get into the Permian were a bit excessive, to put it mildly. The data seems to bear that out -- see this Bloomberg story at Rigzone. The story was not particularly noteworthy, but the last line of the article is in line with my own calculations regarding time to "re-balance." From the linked article:

"The market still needs about another year and a half for demand to catch up."

There may be subtle differences between "re-balancing" and the phrase "for demand to catch up." I don't know. It seems they are saying about the same thing.

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