Oil prices opened the week lower after U.S. President Donald Trump asked OPEC to ‘’take it easy’’ on the production cuts, but recovered somewhat on Tuesday morning Chart of the Week (Click to enlarge) – In December 2018, the U.S. shale industry produced about 65 billion cubic feet per day (bcf/d) of natural gas (70 percent of U.S. total dry gas production). The shale industry also produced 7 million barrels of oil per day, or nearly two-thirds of total U.S. oil production. – A decade ago, most oil and gas production came from conventional sources. – The U.S. EIA just added data coverage for the Mississippian formation, an up-and-coming shale play in Oklahoma within the Anadarko basin. The formation is not necessarily new, but production is on the upswing after the introduction of newer completion techniques. Market Movers – Range Resources (NYSE: RRC) saw its share price jump nearly […]