Is OPEC going to wave the white flag in the war with the U.S. shale producers? OPEC, in a report obtained by Reuter's, says that spite OPEC best efforts to squash U.S. shale production they expect that crude supply from rival non-OPEC producers, led by the U.S., will grow until at least 2017.
Hydraulic fracturing and horizontal drilling have unlocked shale deposits of oil across the U.S., and drilling efficiencies have helped boost rig yields to record volumes from the Permian to North Dakota’s Bakken play.
Pull out the party hats! Dow closed above 15000 for the first time in history! Although the Dow is rocking, and that has been a factor in the increase in oil from the lows, Dow records are just not what they used to be.
West Texas Intermediate crude gained the most in almost six months as the number of Americans filing applications for unemployment benefits slipped and the European Central Bank reduced interest rates to a record low.
On the 25th anniversary of the 1987 stock-market crash, traders are once again trying to find something to believe in. While oil toils and precious metals falter the heating oil-gasoline spread continues to rock.