Why We Could See an Oil Price Shock in 2016

http://www.usatoday.com/story/money/markets/2016/03/27/why-we-could-see-oil-price-shock-2016/81336776/
The depletion of old oil wells is expected to surpass new sources of supply in 2016, as the ongoing oil price slump puts a long list of oil projects on the shelf. Bloomberg flagged new data from the Norwegian consultancy firm Rystad Energy, which predicts that legacy production will tip the supply balance into the negative in 2016 for the first time in years. The production from an average conventional oil field typically ramps up in the early years, plateaus and then enters a period of decline. Depletion rates vary wildly from field to field, but a rule of thumb for conventional oil fields – which make up the bulk of total global supply – is that they decline something like 6 percent per year on average.
Note:  Keep eyes on our prices.

Revelation 19:16 On his robe and on his thigh he has this name written: KING OF KINGS AND LORD OF LORDS. This blog is to present Up To Date Prophetic News. My prayer is that this blog will bring others to know Jesus as their Savior if they do not know him the King of Kings and Lord of Lords.

Posted in Signs of the Times

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