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Saturday, June 6, 2020

Decline of U.S. Shale Output will spark Higher Oil Prices

U.S. shale growth is about to decline, becoming an immediate victim of the Saudi-Russian price war. Saudi Aramco said that it would increase oil production to 12.3 million barrels per day (mb/d) in April, a shocking escalation of the war for market share. That level...

Why rising US shale production keeps pressure on crude prices – Opec

US shale oil output is growing at a faster than expected rate, keeping pressure on prices despite steep supply curbs from some of the world’s biggest producers, Opec said in its monthly market report on Thursday. Despite countries inside the cartel and outside, such as...

Investors push U.S. shale firms to separate executive pay from drilling

by Ernest Scheyder HOUSTON  - Activist investors are taking aim at U.S. shale producers, the companies most responsible for turning the nation into a global energy powerhouse, pushing them to stop rewarding executives for spending billions of dollars on new wells when crude prices are...

Citi: U.S. Shale Beats OPEC At $40 Oil

Citigroup has said that U.S. shale will prevail over OPEC because of its higher resilience to low prices and OPEC’s losing strategy of cutting output and losing revenues and market share. Citigroup’s head of commodity research, Ed Morse, told Bloomberg in an interview that OPEC...

Oil needs to stay $50 a barrel for US drillers to make money says Moody’s

Drillers need prices to stay above $50 a barrel for oil and $3 per mmBtu for natural gas in order to make a significant return on capital, Moody's says. Producers have driven down costs, but capital efficiency now depends on higher oil and...

Shale Under Pressure As Oil Falls Below $50

By Nick Cunningham The OPEC+ cuts still are not doing very much to boost oil prices, dashing hopes for many U.S. shale producers. With companies in the process of formulating their budgets for 2019, the prospect of $50 oil sticking around raises questions about...

US shale oil production to rise to 8.166 million b/d in January: EIA

Houston — US shale oil production in January is expected to rise 134,000 b/d month on month to 8.166 million b/d, the Energy Information Administration said Monday. January's expected growth is one of the more robust monthly increases of late. In November, EIA predicted December's oil...

U.S. Shale’s Bear Seem attack Oil Market Recovery Bulls

Oil markets have taken a beating around the globe, but nowhere has the pummeling been worse than in the United States shale patch, where the oil price crash plunged the West Texas Intermediate crude benchmark to nearly $40 below zero per barrel last month...

U.S. shale output growth should offset OPEC cuts in 2019

Jessica Resnick-Ault NEW YORK, Dec 19 (Reuters) - Surging U.S. crude oil production will offset OPEC’s output cuts aimed at rebalancing the market as soon as the end of next year - undercutting the group’s efforts as shale producers ramp up output regardless of the...

Shale Drillers Promise No 2017 Binges as Oil Hangover Eases

(Bloomberg) -- Shale oil companies are ready to play chicken with supply and demand again. Roiled by a year that began with crude at a 12-year low and ended with a surprise OPEC agreement boosting prices, U.S. producers including Continental Resources Inc. and Pioneer Natural...