US rig count down to a three year low of 1,223 but US oil production up to 9.2 mbd the highest since 1983.
http://www.bloomberg.com/news/artic...ig-count-declines-for-eighth-consecutive-week
Petrobras credit ratings plunging
http://www.bidnessetc.com/33706-why...eo-brasileiro-petrobras-sa-adr-pbr-credit-ra/
Venezuela having civil unrest problems
http://www.bbc.com/news/world-latin-america-31070279
Canada oil sands problems
http://www.macleans.ca/economy/econ...ld-be-worse-for-alberta-than-the-one-in-2008/
Low oil prices are impacting production and should also help demand in some markets which should close the 2mbd oversupply by mid 2015. This will help increase oil prices.
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Oil up 8.33%!! Happy days., page-2
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