Daily LNG price update (rig bottom)

Monday 22 June 2015

The Brent oil price fell 2% Friday night to $62.87 as the US rig count again showed signs of a bottom, falling by just 2 to 857:

Production rose again:

The IEA has some nice charts capturing where US shale is at. Production is about to peak as depleting wells overtake completions:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.