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Commodities Briefing - Categorized | Market Moves, Oil more

How to push back against OPEC

Posted on 08 November 2013

Everyone has fears, and OPEC is no different. OPEC should be scared, real scared, of America’s oil boom. In a previous article I pointed toward the Bakken and the Permian Basin about to bring online an additional 2 million barrels of crude oil output a day by 2025, which will probably be higher because that implies the Bakken hitting and plateauing at 1 million bpd, which in reality it will probably surpass.
Continental Resources has been able to drill deeper laterals to increase the amount of recoverable oil per well by around 40-60% in the Bakken. The Bakken and the Permian Basin has OPEC scared, but there are other plays out there that have OPEC tossing and turning at night………………………………………..Full Article: Source


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VRS - who has written 34673 posts on Opalesque Commodities Briefing.


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