CNBC: Oil Volatility Hits Industry as ‘Price War’ Weighs

05 Feb 2015: “‘You’re just seeing a huge amount of production coming on. I don’t think we expect to see any declines in U.S. output until at least the middle of the year… But in terms of significant production coming off, it is going to take a bit longer,’ Jason Feer, head of business intelligence at advisory firm and brokerage Poten & Partners, told CNBC. …”‘By the end of the year, and early next year, you are going to start to see those capex cuts really bite,’ said Feer. ‘I think something is going to have to give…The price war is really going to continue until somebody blinks.’ “In the short-term, Feer warned that there would be some ‘real pain.’ “‘You are seeing fairly large shale players in trouble, because they are so highly leveraged,’ he said.”