Lower Oil Prices Will Put Fresh Pressure on Energy Credit Spreads

U.S. Production of petroleum products has declined approximately 7% year over year in August, with most of the declines coming in Texas and North Dakota.  With prices remaining in the $40-$50 range, and mergers and acquisitions increasing in the energy space, there will be a greater focus on production cost reduction to gain market share.  The increase in crude oil prices since the Q1 of…