Wed, Jul 30, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Oil, Price Watch more

RBC: US oil production boom won’t push prices much lower

Posted on 11 February 2014

The explosion of U.S. oil output won’t push prices much lower, according to analysts at RBC Capital Markets. They forecast West Texas Intermediate oil prices will trade largely between $92 and $94 this year and next, CNBC reports. March WTI settled at $99.88 Friday.
U.S. oil production has soared by almost 50 percent from its 2008 low, to 8 million barrels per day. Thanks to the shale boom, output could increase by at least 700,000 barrels per day each year through 2016, according to RBC, CNBC reports………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 36194 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

July 2014
S M T W T F S
« Jun    
 12345
6789101112
13141516171819
20212223242526
2728293031