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US Shale Oil Was Never Going To Stand Still

By John Richardson TECHNOLOGY doesn’t stand still. That’s the whole point about technology as any oil, gas or chemicals engineer will tell you. The above chart is a fantastic example of this. It shows how the efficiency of US oil rigs, thanks to improvements in the fracking process, has improved by leaps and bounds from […]

Oil Price Rally Built On Very Fragile Ground

By John Richardson OIL prices rallied yesterday on an unexpected fall in inventories at Cushing in the US to 61.7 million barrels for the week ending 24 April (see the above chart). This was a decline of 514,000 barrels over the previous week, which compared with forecasts of an increase of 400,000 barrels. So does […]

US Oil: Nothing Is Uncertain As Certainty

By John Richardson ALL of yesterday’s excitement about the US overtaking Saudi Arabia and Russia by 2017 to become the world’s biggest oil producer – and exceeding Russia to become the world’s biggest gas producer by 2015 – needs to be taken with a very large pinch of salt. The release of the International Energy […]

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