FX.co ★ Oil wells in U.S. tumbles sharply

Last week number of oil wells in the United States dropped to a low since October 2013 because a slump in oil prices affected shale oil producers. On January 16, 1,366 oil wells worked in the U.S., the number is 15% lower than the high of 1,609 fixed in last October.
Over last four weeks 170 oil wells closed in the country in comparison with 38 closed over previous four weeks.
Experts at Moody's anticipate that in the first quarter of the current year around 200 U.S. oil wells may stop their work.
U.S. Department of Energy supposes that from May to September of 2015 oil production in the country may fall by 3% versus the corresponding period of 2014. However, oil production for the current and the next year is expected to increase.
Maybe supply and demand will be close to a balance in the second half of the current year.