“A Dreaded Scenario For Oil Bulls Is Becoming A Reality” Reuters Warns: U.S. Production Is Coming Back On Line
by Tyler Durden
ZeroHedge.com
03/21/2016
With oil surging above the critical $40 new “floor” price, as Reuters put it moments ago, “a dreaded scenario for U.S. oil bulls might just be becoming a reality.” The reason: some U.S. shale oil producers, including Oasis Petroleum and Pioneer Natural Resources Co, are activating drilled but uncompleted wells (DUCs), which is sure to bring back more crude to a saturated market and dampen any sustained rebound in prices.
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