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$67 Oil Has All The Majors Converging in Argentina

Green Car Congress

Prices for light oil are set at $67 per barrel and natural gas prices fixed at $7.50 According to the EIA , Argentina has over 800 trillion cubic feet of unproved technically recoverable shale gas reserves (more than the 622 tcf located in the US) and 27 billion barrels of shale oil, which is less than only the US, Russia, and China.

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Opinion: The Current Oil Price Rally Is Reaching Its Limits

Green Car Congress

But the rally could be reaching its limits, at least temporarily, as persistent oversupply and the prospect of new shale production caps any potential price increase. US oil production has steadily lost ground over the past two quarters, with production falling more than a half million barrels per day since hitting a peak at nearly 9.7