First off, the SPR release was 260 million barrels according to Jeff Currie interview. It was a combined OECD SPR release.

Secondly, Energy peddler does not acknowledge that shale is done. Only, the Midland has modest capacity to grow, but this will be off set by declining Bakken, declining Eagleford, and flat to declining Delaware and a nearly empty SPR.

Furthermore, rig counts and frac counts have been falling for 3-4 weeks. Oil production will follow with falling oil production. Then rising gas/oil ratios will continue also limiting oil production growth.

Why does Energy peddler ignore this obvious data?

http://oilprice.com/Energy/Crude-Oil/US-Shale-Production-Is-Set-For-A-Rapid-Decline.html

Is Energy peddler peddling an incomplete narrative to promote low oil prices?