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<blockquote data-quote="Allen" data-source="post: 49578" data-attributes="member: 389">Two peas, one pod.- - - Updated - - -Way I see it, OPEC is thus far getting what they want.&nbsp; And that is a lower investment into the oil resources of the U.S. and other non-OPEC areas.&nbsp; There are around 70 rigs drilling in ND right now, yeah they are faster and more efficient per rig than the 230 we had some 18 months ago, but they are not going to keep production up where it is currently, much less increase production.&nbsp; The inflection seems to already be there as an article in the Trib said we were about 9k barrels less off our peak production.&nbsp; So at a minimum the growth has ceased.I think what OPEC is hoping for is to hold out a little while longer and once our production (and that of other expensive areas) is in an unstoppable fall, THAT is when OPEC will cut their own production in order to jack the price of crude through the roof.&nbsp; Will we see near immediate infusion of more rigs and enhanced oil recovery (EOR) projects?&nbsp; Of course, but that will take months to a year or two to reverse the downward trend already in place.&nbsp; In the meantime, OPEC will be making bank off of their cuts in production.At least, that's where I am placing my bets.</blockquote>

[QUOTE="Allen, post: 49578, member: 389"] Two peas, one pod. [COLOR="silver"][SIZE=1]- - - Updated - - -[/SIZE][/COLOR] Way I see it, OPEC is thus far getting what they want. And that is a lower investment into the oil resources of the U.S. and other non-OPEC areas. There are around 70 rigs drilling in ND right now, yeah they are faster and more efficient per rig than the 230 we had some 18 months ago, but they are not going to keep production up where it is currently, much less increase production. The inflection seems to already be there as an article in the Trib said we were about 9k barrels less off our peak production. So at a minimum the growth has ceased. I think what OPEC is hoping for is to hold out a little while longer and once our production (and that of other expensive areas) is in an unstoppable fall, THAT is when OPEC will cut their own production in order to jack the price of crude through the roof. Will we see near immediate infusion of more rigs and enhanced oil recovery (EOR) projects? Of course, but that will take months to a year or two to reverse the downward trend already in place. In the meantime, OPEC will be making bank off of their cuts in production. At least, that's where I am placing my bets. [/QUOTE]

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