Which is exactly my point.
Any increase in shale output will naturally result in excess supply which in return results in a drop in oil price (assuming demand has been flat lining - which is the case now). But I agree that shale drillers have overshot their capabilities on the back $100 oil and there will decline in shale production towards the end of the year.
A good read about the highly leveraged shale industry...
http://www.economist.com/news/busin...re-many-shale-firms-do-not-fractured-finances
Which is exactly my point. Any increase in shale output will...
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