On Wednesday, a survey held by the Federal Reserve Bank of Dallas showed that almost two-thirds of US energy firms were sure that the country’s crude oil output has peaked.
66% of 154 oil and gas company executives believed that the country’s crude oil production has peaked, but there was no mention on whether the peak was considered temporary or permanent.
Almost three-quarters of executives from 148 oil and gas enterprises in the poll believed that the Organization of Petroleum Exporting Countries (OPEC) would have a bigger role in determining the price of crude oil in the future.
On average, executives on the poll estimated the price of West Texas Intermediate (WTI) crude oil to stand at USD43.27/barrel by the end of this year.
