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Former official: the growth of shale oil production in America needs to be $ 80 a barrel
07.10.2015
Mark Pope of the former head of oil company Aa.ao.ja Resources said that shale oil production growth in the United States will depend this month and will begin to decline early next year due to falling crude prices.
He informed the Pope -oho currently a partner in the US energy investment firm Riverstone Holdndz- oil industry conference in London that the shale oil industry in the United States needs a price for ore of at least $ 80 a barrel for the resumption of production growth.
The Pope, who was a prominent figure contributed to the stimulation of shale oil boom in America, "We are about to see a sharp decline in output growth in the United States."
And grew oil production in the United States about one million barrels per day on an annual basis since mid-2012 thanks to the use of new technologies in drilling oil and gas reservoirs were fired from a rocky.
But production in North America began to slow down in the last few months with the sharp drop in prices.
Baba said that the expected decline in US production is mainly due to the weakness of bank financing for new projects of shale oil.
He added that if the US light crude prices resumed climb to $ 75 a barrel, oil production in the United States will resume growth by about 500 thousand barrels per day, or about half of the record growth witnessed in the past few years rates. It ended 29 quarters e
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