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Industry News  

Hughes Beck data show that the U.S. shale oil production is picking up
2015-10-07 21:27:00

Hughes Beck, a large oil service company, the latest release of statistical data show that in July 3rd when the United States started crude oil drilling a number of 12 to 640, a change in the past week, a decline of 29 weeks, which shows the United States shale oil output is rising. Shopping malls have indicated that the outside world began to further concerns the United States may persist in the production of shale oil, and continue to form a pressure on oil prices. To 3, close, New York crude oil futures fell 0.6% to $56.58 a barrel, Brent crude oil futures fell 0.7% to $61.66 a barrel.

Citibank analyst Evans has indicated that, despite the United States oil production continues to rise, and to make the supply of crude oil, but the oil exporting countries (OPEC) to improve the output value of crude oil is the international oil market in the face of greater doubt. He showed that if political obstruction in the future is to be eliminated in the future, then the new oil production in southern Iraq and Saudi Arabia will obviously promote the increase in OPEC output. Evans also emphasized: "OPEC meeting the group fighting for market share, but they though may make greater market share, but bear the international crude oil market to weaken the risk." HSBC research report pointed out that thanks to the Asian economies in oil refining professional profit margins are weak, the need for crude oil is now also continue to rise, which may be added to the global oil output.

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