Increase in US rig count will not cap oil prices
Green Car Congress
JUNE 23, 2016
The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. 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. by David Yager for Oilprice.com.
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