EIA sees a slight dip in US share production in August - ForexLive
EIA sees a slight dip in US share production in August | Forexlive
The EIA sees US share regions producing 9.399 million barrels per day in August, down 18,000 barrels per day after a 5,900 bpd rise in July.
The evidence continues to mount that we're at the peak of US shale supply and that it will be tough to sustain later in the decade, barring a drilling technology breakthrough.
WTI crude oil is down $1.36 to $74.07 as Libyan production resumes after a short blockade and the market worries about Chinese demand.
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Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”