Decline in US shale oil production at the end of 2015

Organization of the Petroleum Exporting Countries "OPEC" Monday, March 16, said that American oil production could begin to decline by the end of 2015 due to lower prices on the world oil markets.

These statements indicate that "OPEC" will have to wait after its next meeting in June to see whether the collapse of oil prices will affect the oil shale boom in the United States.

And push crude prices falling by half since June 2014, oil companies to reduce expenses and declining drilling activities in the United States, including reinforcing expectations a slowdown in the production of non-Member States of the Organization of "OPEC".

But the group kept in a monthly forecast for supplies from outside supply report in the current year unchanged, but said that the US shale crude production may shrink with the approach of the end of the year.

The organization said "shale oil producers realize that the typical oil production wells in the rocky fields decline of 60% per year and it can not compensate for the losses, but to dig new wells."

She added, "with the decline in drilling activity due to the high cost and the prospect of continued low oil prices .. can be expected to lower production in the wake of that .. maybe by the end of 2015".

And accelerated the collapse of oil prices in 2014 after he balked "OPEC" for production cuts at its meeting in November in an effort to reduce the high cost of production in the United States and elsewhere has led to reduced market share.

OPEC holds its next meeting in June, and officials suggest the organization's statements so far that it will not change its production policy at the next meeting, where waiting for that strategy to bear fruit.

At the present time, "OPEC" does not expect growth in demand for its crude in 2015, but lowered slightly to 29.19 million barrels a day and has kept its estimate for growth in global oil demand this year unchanged.

In a report last month raised the "OPEC" forecast for demand for its oil in 2015 largely attributed to the decline in supplies from outside the organization's expectations.

Meanwhile, a source in the oil sector, said Monday that Libya's production of crude rose to about 490 thousand barrels per day.

And was able to Libya to resume work in the fields of the elephant and the fulfillment of the west of the country while maintaining production from the eastern fields. Libya announced the case of "force majeure" in fact the central fields because of armed attacks.