Shale production growth stalls

摘要

Growth remains on hold this year for US shale producers as most firms wait for evidence of stronger market fundamentals before spending more on new wells. US lower-48 crude output is stalled at around 10.5mn b/d and is not expected to reach 11mn b/d before December, the EIA says in its Short-Term Energy Outlook. The agency revised down its forecasts, despite higher oil prices this year, as producers maintain they will not boost spending or output while Opec+ holds 'a sword of Damocles' over the industry by withholding substantial spare output capacity.