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The economies of oil have changed with the emergence of Shale wells. The oil prices are now trending low, and there is a sharp increase in the supply. It does paint a rosy picture for the customers.. but not so good for the producers. Given that lower prices implies lower revenues, the fact that output levels for Shale wells decline rapidly, investments are required to explore new spots, and OPEC’s decision to let the market find its own price.. what’s the future? :scratch:
While price will be a factor, it will be the ultimate replacement for oil. One can already see the impact on global prices. With US planning to start exporting in 2016-17, Shale is definitely here to stay.
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