America acts decisively, despite the protests of OPEC and falling prices.
In the United States was set another record for oil production despite the collapse in prices and oversupply in the market, the newspaper writes sprotyv.info.
According to the us energy information Administration us Department of energy, oil production in the United States last week amounted to 13.1 million barrels per day, 100 thousand barrels more than last week and 1 million barrels above the February figure of 2019.
Oil exports amounted to 4,154 million barrels per day, which is 497 thousand barrels more than the figure last week.
Given the fact that shale oil has a payback in the range of $30-$40 per barrel, currently prerequisites for the reduction of production and even more.
With the introduction of new technologies and cheaper production process, by 2023 only one Permian Deposit plan to produce 8 million barrels a day, which is comparable to the production of oil by all countries-members of OPEC, excluding Saudi Arabia.
Therefore, all trends indicate that the United States will continue to tear the market of “black gold” for its record production, despite the protests of OPEC and falling prices.