US Shale Oil – The End of the Bubble?

340

February 11, 2015

Published in Les Econoclastes
(France) on 7 February 2015
by Nicolas Meilhan (link to original link to original)

Translated from by Michael Krimian. Edited by Nicholas Eckart.

The rate of installation of oil rigs in the U.S. is plummeting since OPEC’s decision to maintain its level of production last Nov. 27 and to keep the price of a barrel of oil under $70.

If some rejoice about this 25 percent drop in the rate of installation of oil rigs in less than three months, equal to an increase of oil prices at midterm, the latter could nonetheless put an end to the production of U.S. shale oil, which could decrease as soon as 2015.

The fall in U.S. shale oil production will coerce a decrease in global oil production, which outside the U.S. has fallen since January 2011. Talking about a global “peak oil” production seems premature and that’s a line I am not crossing … right now.

Les installations de forage pétrolier aux Etats-Unis sont en chute libre depuis la décision de l’OPEP de maintenir sa production de pétrole le 27 novembre dernier et le passage du baril de pétrole sous la barre des 70$.

Si certains se réjouissent de cette chute de 25% des installations de forage pétrolier en 3 mois, synonyme d’une remontée des prix du pétrole à moyen terme, celle-ci pourrait néanmoins siffler la fin de la récréation pour la production de pétrole de schiste aux Etats-Unis qui pourrait baisser dès 2015.

Et qui dit baisse de la production américaine du pétrole de schiste dit baisse de la production mondiale de pétrole, qui hors Etats-Unis baisse depuis Janvier 2011. De la à parler de pic tous pétroles, il n’y a qu’un pas que je ne franchirai pas … dans l’immédiat.

This post appeared on the front page as a direct link to the original article with the above link .

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