Title : The Market And Energy Page, T+206 -- August 14, 2017
link : The Market And Energy Page, T+206 -- August 14, 2017
The Market And Energy Page, T+206 -- August 14, 2017
From Reuters: US shale output poised to keep rising despite investor concerns.Shale production in the largest U.S. oilfield should rise by as much as 300,000 barrels per day by December, according to updated forecasts following the industry's latest quarterly results.
The higher outlooks, amid worries the recent breakneck pace of gains may not be sustained, come on the heels of one high-profile Permian Basin producer's oil output miss last quarter and decisions by several other energy companies to trim annual budgets.
Oil production from the Permian Basin of West Texas and New Mexico is closely watched because its low costs and rapid growth have pressured efforts by the Organization of the Petroleum Exporting Countries to drain a global crude supply glut.
Consultancy Wood Mackenzie sees another 300,000 barrels per day (bpd) coming from Permian projects by the end of the year, raising its year-end forecast by 200,000 bpd.
Rystad Energy, meanwhile, projects output from the Permian will rise by 300,000 bpd in the six months from June to December.
Both expect oil production in the Permian next year will approach or surpass the 2.7 million bpd mark.
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