Sign Up for FREE Daily Energy News
CDN NEWS  |   US NEWS  | TIMELY. FOCUSED. REVELANT. FREE
BREAKING NEWS:

Hazloc Heaters
H2Sweet
Propell
Propell
H2Sweet
Hazloc Heaters

Shale Discipline Seen Curbing U.S. Oil Output Growth by Over 50%


By Sheela Tobben

(Bloomberg) U.S. oil output growth could decelerate by more than 50% next year as greater capital discipline cuts drilling rigs in America’s largest shale patch.Production is set to expand by 400,000 barrels a day, the weakest growth since at least 2017, according to the U.S. Energy Information Administration. Output is seen increasing by a little over 1 million barrels a day this year.The slowdown will be driven by austerity in the Permian Basin, America’s shale-oil engine. That’s after shares of producers were hammered for unbridled output coming at the expense of investor returns. The heads of companies including Pioneer Natural Resources Co. and Centennial Resource Development Inc. have warned of a downturn.

Slowdown

The EIA isn’t alone is expecting a slowdown in growth. The Paris-based International Energy Agency has issued similar forecasts.

Slower production growth could undermine America’s recent transition to being a net energy exporter. In October, the nation sent more crude and refined products abroad than it imported, marking the second consecutive month it was a net petroleum exporter.



Share This:



More News Articles


New SHOWCASE Directory Companies

 

Hazloc Heaters
Scovan Engineering
Bedrock Automation
Dycat Solutions