In the wake of the shale revolution, rising supplies of oil have oil producers weighing their options (if any) to stabilize their product’s price per barrel.
In his column from OilPrice.com, Matt Smith, Director of Commodity Research at ClipperData, takes a look at the data from the US Energy Information Administration, Bloomberg and Datamyne and concludes that global oil production will continue to rise – and depress prices – in the near term.
Among his observations: while US shale replaces Saudi light oil imports, gains in US imports of Saudi medium oil appear to be offsetting at least some of the loss.
Read “This Is Why the Saudis Are Unlikely to Accept Any Production Cutback” >