How US drillers weathered OPEC's new oil order: ""The lower oil prices go today, the higher they will likely go in the coming years."
Intervale's Cherington told CNBC that such a reversal may not be far off.
"There's this production hangover now, but if you look forward to 2017 and '18, we're going to have the opposite problem, and you're going to see a real shortage because all this capex reduction today is going to lead to lower output in a couple of years," he said.
"The worse it is and the longer it lasts, the more acute the shortfall will be in a couple of years," he said. "It's kind of ironic.""
'via Blog this'
No comments:
Post a Comment