Rate cuts are coming.
rate
Oil and Gas Decline Rates
Where is shale oil and gas coming from?
Novilabs shows the decline rates for oil and gas.
Permian oil:
Permian gas:
Eagle Ford oil:
Eagle Ford gas:
Bakken oil:
Bakken gas:
Haynesville gas:
Canadian Oil and Gas Decline Rates
Housing Vs. Mortgage Rate
Shale Gas Decline Rates Accelerating
This is why natural gas will go much higher. Shale gas production is flatlining due to high decline rates.
Gas prices should rise, including AECO gas.
Oil wells have been becoming gassier. As oil demand drops, oil supply will need to be cut with it and that will have a significant impact on natural gas supply dropping.
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GOFO Rates Vs. Gold Price
Koos Janssen points out that when GOFO rates turn negative, the gold price is pushed up due to tight supply in gold.
I have compiled the 3 month GOFO rate since 2008, calculated from lease rates and libor rates. You will notice that the GOFO rate is quickly turning negative and this tells me that the gold price is probably nearing a bottom rather than a top.