The chief operating officer at Continental Resources said that oil producers would be forced to cut back on production if the United States doesn't allow for crude oil exports.
Is a problem of plenty brewing? Rick Bott -- president and COO of Continental -- said that crude oil prices will remain artificially depressed because domestically produced crude isn't finding its way into the global markets. And this eventually lowers the incentive to keep up with production volumes. As evidence, he points out to the fact that the crude oil markets are heavily "backwardated."..............................................Full Article: Source
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