Oily Stuff

CERAweek in Houston last week was not such a happy, optimisitic place, it seems and lots of old timers whose brains have not been eroded, save Ryan Lance,  fessed up to problems facing the U.S. shale oil sector and the world in general. Better read this. 

​

Occidental Petroleum (OXY), one of the biggest shale operators, is bracing for domestic crude production to top out sometime in the next five years, with CEO Vicki Hollub telling the conference that during 2027-30, "it's likely that the U.S. will see peak production and after that it’s going to decline."