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 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.
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