Study: US shale oil production to 1.9 million bpd in 2016
Posted: Wed 01 Jun 2011, 17:43:33
I'm so excited!
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Morgan Stanley On The Renaissance In American Oil Production
Sarah Rappaport | May 25, 2011, 10:35 AM |
According to Morgan Stanley, oil production in the US is about to increase exponentially, and in new ways that will stabilize the market.
Due to sticker shocker at rising crude oil prices, which have almost doubled in the past three years, companies have been more willing to invest in new technologies using shale that were previously thought of as too expensive.
They expect companies that use new drilling technologies to grow in the next few years, and for the market to stabilize from the benefits of shifting the focus of production from natural gas to oil.
Production of shale is about to increase exponentially:
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