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U.S. Shale Collapse Will Lead To Higher Oil Prices [Yahoo! Finance News]

Diamondback Energy, Inc. (FANG) 
Last diamondback energy, inc. earnings: 2/18 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.diamondbackenergy.com
U.S. shale growth is about to decline, becoming an immediate victim of the Saudi-Russian price war. Saudi Aramco said that it would increase oil production to 12.3 million barrels per day mb/d) in April, a shocking escalation of the war for market share. That level of output is believed to be beyond what Aramco can produce on a sustainable basis. In other words, Saudi Arabia is going all-out to flood the market. Also, Saudi energy minister Prince Abdulaziz bin Salman didn’t sound interested in meeting with Russia anytime soon. “I fail to see the wisdom for holding meetings in May-June that would only demonstrate our failure in attending to what we should have done in a crisis like this and taking the necessary measures,” Prince Abdulaziz told According to Energy Intelligence Russia says it can withstand the price war at $25 to $30 per barrel for 6 to 10 years. Neither side appears willing to budge. “Monday will go down as one of the bleakest market days in the history of the energy s Show less Read more
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