via user twfry At today's prices US shale will quickly ramp down by 2000kbpd within a few quarters. KSA is going to cut 500kbpd soon plus OPEC another 500-900kbpd. Canada is scaling back 300-500kbpd. On top of the KSA and others have been juicing exports by drawing on storage, that stopping is good for another 200kbpd, reversing to rebuild is good for another 200kbpd. Venezuela is going to stop exporting all together by end of 2019 which is good for another 600kbpd drop. Iran is good for another 1000-2000kbpd. Additionally Libya, Iraq, etc. have all been producing at max rates, any disruption (which always happens) will take another 500-1000kbpd offline. On top of that demand will increase by 1200-1600kbpd On top of that the capex pipeline is dried up, those 5000kbpd of new production being delivered each year just got cut in half. The entire reason for the recent builds was KSA over delivering to the US prior to midterms to negate any Iran cut effects. Don't know for sure what will happen, but I expect the biggest reversal in decades. The current pricing is simply unsustainable to maintain a 100,000kbpd global demand habit. I expect we will be begging for more shale by 2020.Related:Buy $XOM $XOM, Exxon Mobil Corporation / H1 Buy $BP: $BP, BP p.l.c. / H1