article thumbnail

IEA March Oil Market Report revises 2015 demand forecast upward

Green Car Congress

Global supply rose by 1.3 expected US crude supply, raising the 2015 North American outlook. expected US crude supply, raising the 2015 North American outlook. mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. OECD commercial stocks rose by a weaker?than?average

2015 150
article thumbnail

New EIA report boosts estimates of global recoverable shale oil resources 10-fold to 345 billion barrels

Green Car Congress

ARI) to conduct the new world shale resource assessment because shale oil production has become a significant source of oil supply within the United States and because more and better geologic information has become available for shale formations located outside the United States. EIA commissioned Advanced Resources International, Inc.

Oil 281
article thumbnail

Increase in US rig count will not cap oil prices

Green Car Congress

If prices went too low the LTO operators couldn’t afford to drill, which would shrink supply and cause prices to rise. The geological and commercial differences between the two couldn’t be more glaring. If they somehow collude to restrict supply to affect prices they will be prosecuted and perhaps sent to jail.