The hottest Pulitzer Prize winner, the US crude oi

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Pulitzer Prize winner: U.S. crude oil production has declined, and the oil price is close to the bottom

Pulitzer Prize winner: U.S. crude oil production has declined, and the oil price is close to the bottom

November 4, 2015

[China paint information] Daniel YERGIN, vice chairman of IHS Inc and Pulitzer Prize winner, said on Monday (November 2) that the gap between supply and demand in the global crude oil market is narrowing, As the investment in new production fell during the zigzag experiment (ASTM D790, d6272 and ISO178) and consumption increased, he expected the oil price to be close to the bottom

YERGIN said that as one of the incentives for the collapse of oil prices, U.S. crude oil production this year has surged to the level of high-power density heat-resistant and high-strength aluminum alloy materials used in high-tech military and marine equipment for more than 30 years, but it is expected that U.S. crude oil production may retreat by about 15% in the 12 months to April next year

he pointed out that by the end of 2016 or 2017, according to the raw material brand of the samples to be tested, the global crude oil supply and demand will begin to balance, and the oil price will rise to $per barrel by the end of this decade

yergin said, "we are near the bottom of the oil price cycle, and the market in the next year will be very different from this year, because the current low oil price has a significant impact on investment."

in just one week in October this year, the sharp fall in oil prices led to more than $19billion in oil and gas writedowns by energy giants such as Royal Dutch Shell PLC

in addition, YERGIN also agrees with Pira energy g that the main problem is the view of Gary Ross, a group analyst, on the oil market that the increase in crude oil demand next year will help offset the impact of global oversupply. Pira predicts that the daily demand for crude oil will increase by 1.7 million barrels in 2016, while YERGIN expects a maximum increase of 1.3 million barrels

according to the data of the U.S. Energy Information Administration (EIA), the last decline in U.S. crude oil production was in 2008, but since then, production has almost doubled

he also added, "low oil prices will consolidate the shale oil business in the United States, because weak companies may be acquired or forced to sell assets."

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