The recent slide in oil prices may finally start impacting U.S. oil production forecasts. The plunge in oil prices in November and December spread gloom around the industry. Comments from anonymous oil executives in a survey from the Federal Reserve Bank of Dallas from earlier this month clearly depicted the creeping pessimism from oil country. “I expect the dramatic, unexpected and significant drop in oil prices will significantly decrease revenue for the first half of 2019. I intend to mitigate this by stopping all drilling and deferring any new projects,” one oil executive told the Dallas Fed. Another worried about lack of financing for drilling. “It feels like the capital markets (equity and debt) are backing up fairly hard, which will have a noted impact on capital spending if sustained. Coupled with the fall in oil prices in the past six weeks, this could cause 2019 plans to get […]