Increase in US rig count will not cap oil prices
Green Car Congress
JUNE 23, 2016
The argument emerged that having contributed to the collapse of world oil prices, US LTO was the new global swing producer, replacing OPEC leader Saudi Arabia in that role. The EIA reported June 14 that it expects LTO output to fall by another 118,000 b/d by July, mostly from the Bakken and Eagle Ford. on February 11.
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