Spending cuts by US independent producers will slow the pace of oil output growth in the shale regions again this year. The year-on-year growth rate for tight oil production eased from 1.5mn b/d in the frst quarter of last year to 1.1mn b/d in the fourth quarter. The EIA forecasts a similar slowdown this year. Upstream spending by US independent exploration and production (E&P) companies is expected to fall by 10pc this year after a 12pc cut last year, UK bank Barclays’ global 2020 E&P spending survey says. Investors are demanding better returns and shale developers are paring back spending to boost dividend payments and share buybacks after previously prioritising output growth. After years of spending more than they earned, the number of US E&P companies fling for bankruptcy rose by 50pc last year.
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机译：美国独立生产商的消费削减将在今年再次缓慢页岩地区的石油产量增长速度。 紧密石油产量同比增长率从去年FRST季度的1.5Mn B / D减少到第四季度的1.1Mn B / D. EIA今年预测了类似的放缓。 美国独立勘探和生产（E＆P）公司的上游支出预计今年在去年12PC削减后，今年预计今年将在今年下降10分，英国银行巴克莱全球2020年E＆P竞赛支出调查显示。 投资者要求更好的回报，页岩开发商正在削减支出，以便在先前优先考虑产出增长后促进股息支付和股票回购。 经过多年的支出超过他们所赚的量，美国E＆P公司的数量去年50普公司上涨50普。
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