Expectations of a rise of shale gas and oil production in the United States

1/19/2017 0:00 

Capitals / follow Mustafa al-Hashemi

[size]
The US government said there were expectations of higher shale oil production has in February after falling for three months as companies boosted exploration activity with the approach of crude oil prices from the highest level in 18 months. 
This increase in production on a monthly basis will be the first since October and the third increase in a year and according to a report of exploration for US Energy Information Administration activities. 
As the Energy Information Administration said that February production will rise by 40 thousand and 750 barrels per day to 4.748 million barrels per day. It was expected reduced production by 5,900 barrels per day in January. 
The Energy Information Administration predicted total production of natural gas rising in the United States in February for the third month in four months to up to 48 billion cubic feet per day, Maani increase of more than 0.3 billion cubic feet per day for the month of January. 
The data showed that the expected increase in production in the Permian Basin in West Texas and eastern New Mexico by 53 thousand barrels per day to 2.18 million barrels a day. 
It is expected the decline in oil production in the Bakken in North Dakota by 20 thousand barrels per day to 978 thousand barrels per day of production decline in the Eagle Ford , Texas by three thousand barrels a day waiting to 1.042 million barrels per day. 
Oil prices rose on the back of the Chinese authorities statements about watching a cut in oil production and increase import of "black gold" in the country. 
According to the data of trading in the market, the price of oil rose on Wednesday futures to a combination of oil for North Sea Brent up 0.29 percent , or up to $ 55.63 per barrel, and the price of futures contracts for the month of February, oil WTI, rose 0.34 percent , or up to $ 52.66 a barrel. 
National Commission for Development and Reform Commission of China announced that, until 2020, oil production in the country may fall by 7 percent compared to 2015, and in this way indicators become at 4 million barrels per day, according to the newspaper "The Wall Street Journal." 
The paper said that it is expected that the net imports of "black gold" will grow by 5.3 percent on an annual basis for 2017, that is, until eight million barrels per day, and in 2016 up the index at a level of 7.65 million barrels per day, which is the maximum historically and in comparison with indicators Previous grew by 14 percent. 
The newspaper pointed out that China 's decision about 64.8 percent of oil needs with the help of imports in 2016, and these indicators possible to rise up to 66.7 percent.[/size]




http://www.alsabaah.iq/ArticleShow.aspx?ID=130039