{"id":6179,"date":"2015-03-03T06:48:22","date_gmt":"2015-03-03T11:48:22","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6179"},"modified":"2015-03-03T06:48:22","modified_gmt":"2015-03-03T11:48:22","slug":"could-oil-prices-plummet-a-second-time","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6179","title":{"rendered":"Could Oil Prices Plummet A Second Time?"},"content":{"rendered":"<h3><a href=\"http:\/\/oilprice.com\/Energy\/Oil-Prices\/Could-Oil-Prices-Plummet-A-Second-Time.html\" target=\"_blank\">Could Oil Prices Plummet A Second Time?<\/a><\/h3>\n<p>Are oil prices heading for a double dip?<\/p>\n<p>The surge in shale production has produced a temporary glut in supplies causing oil prices to experience a massive bust. After tanking to a\u00a0<a href=\"http:\/\/www.eia.gov\/dnav\/pet\/hist\/LeafHandler.ashx?n=PET&amp;s=RWTC&amp;f=D\">low of $44 per barrel<\/a>\u00a0in January, falling rig counts and enormous reductions in exploration budgets have fueled speculation that the market will correct sometime later this year.<\/p>\n<p>However, there is a possibility that the recent rise to $51 for WTI and $60 for Brent may only be temporary. In fact, several trends are conspiring to force prices down for a second time.<\/p>\n<p>Drillers are consciously deciding to\u00a0<a href=\"http:\/\/www.eenews.net\/energywire\/2015\/02\/26\/stories\/1060014049\">delay the completion<\/a>\u00a0of their wells, holding off in hopes that oil prices will rebound, according to E&amp;E\u2019s\u00a0<em>EnergyWire<\/em>. The decision to put well completions on hold could provide a critical boost to the ultimate profitability of many projects. Higher oil prices in the months ahead will provide companies with more money for each barrel sold. But also, with the bulk of a given shale well\u2019s lifetime production coming within the first year or two, it becomes all the more important to bring a well online when oil prices are favorable. With prices still depressed \u2013 WTI is hovering just above $50 per barrel \u2013 drillers are waiting for sunnier days.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Could Oil Prices Plummet A Second Time? Are oil prices heading for a double dip? The surge in shale production has produced a temporary glut in supplies causing oil prices to experience a massive bust. After tanking to a\u00a0low of $44 per barrel\u00a0in January, falling rig counts and enormous reductions in exploration budgets have fueled [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[3907,184,1775,594,595,723,798,1451,895],"class_list":["post-6179","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-brent","tag-crude-oil","tag-oil-price-collapse","tag-oil-prices","tag-oil-production","tag-shale-oil","tag-tight-oil","tag-west-texas-intermediate","tag-wti"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6179"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6179\/revisions"}],"predecessor-version":[{"id":6180,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6179\/revisions\/6180"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}