| It seems like no matter whether oil prices are going up or down, the media cycle is six months behind the curve. A year ago, when oil prices started to plummet, it was widely thought that prices would surge before we knew it and the U.S. oil boom would be back to its high-growth pace.
Oil producers echoed that sentiment, waiting until the last minute to cut 2015 capital spending budgets. When oil prices fell below $40 and the weak oil market hit, shale producers started to panic. Prominent exploration & production compnies like Pioneer Natural Resources, EOG Resources, and Whiting Petroleum have all cut budgets as oil prices plunged and they started reporting losses...............................................Full Article: Source
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