Producers Defer Completions Until Conditions Improve

摘要

Faced with low oil prices and rapidly rising volumes of crude in storage, US oil producers are increasingly opting to hold off on completing recently drilled wells in anticipation of more profitable market conditions in the future. The steep drop in oil prices since last summer has left the price for a barrel of West Texas Intermediate (WTI) crude languishing in the $50s -- near or below the break - even point for many major US oil plays.