Downgrading oil as US shale explodes higher

Wednesday 15 March 2017

The EIA was out with its monthly drilling report last night and, boy, is US shale something to watch in action. Productivity per rig continues to rocket:

For instance, check out Eagle Ford:

Those gains are closing in on unbelievable. Check the well head break even prices now:

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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.