Oil production growth in US grinds to a halt.


Lower oil prices and ongoing financial stress in the U.S. shale industry are creating headwinds for drillers, and it appears increasingly likely _: that supply growth could undershoot forecasts. US oil production fell in June to 12.082 million barrels per day (mb/d), according to new data released by the EIA on Friday. That is a decline of 33,000 bpd from May - not a huge drop off, but a decline nonetheless. In previous months, maintenance at offshore oil fields made up a big chunk of the declines.

While the overall figures for the entire...

To continue reading