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Big increase in US shale output drags prices down
Jan 22: US shale oil output seems to be going up explosively, thereby putting a brake on further increases in oil prices.
8Latest data shows a big increase in rig deployment.
8The US data however comes in the midst of a reaffirmation by OPEC and Russia that they will persevere with oil-production cuts until the end of the year to clear a global glut. They also signaled their readiness to cooperate beyond the current year.
8The website carries here a series of reports on how US oil production is responding to positive price signals, in terms of rig counts and production increases. Click on Report for more.


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