Increase in US rig count will not cap oil prices
Green Car Congress
JUNE 23, 2016
If prices went too low the LTO operators couldn’t afford to drill, which would shrink supply and cause prices to rise. The IEA cautions the return of Canada’s oil sands to the market or the potential outbreak of peace and tranquility in Nigeria, Libya and Venezuela could change this outlook. Every forecast must carry these caveats.
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