Odessa American: Ray Perryman Column

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Ray Perryman Column

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PERRYMAN: Oil production in some shales could continue to drop

After years of rapid increases, U.S. crude oil production is expected to decline for the month of May for several of the key shale formations (including the Eagle Ford here in Texas). Given recent oil price levels, the reversal isn’t all that surprising. So how important is the change in pattern, assuming, of course, that the EIA’s projection for May is correct? On balance, I don’t see it as a huge event.

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