Related Articles
Forward article link
Share PDF with colleagues

US shale production stalls on lower prices

As companies cut costs, output growth of shale has also fallen

The low oil price is starting to take its toll on US shale production. As companies have pulled rigs out of the oil patch and decide not to start producing from new wells, shale output growth has ground to a halt.  The US Energy Information Administration (EIA) said in its Drilling Productivity Report this month that total US shale production would grow by just 1,000 barrels a day (b/d) in April compared to the previous month, its slowest rate in years.  Production will fall in the key Bakken and Eagle Ford shale plays in April. The Permian Basin in Texas is the only major shale oilfield that continues to see strong output growth. It is expected to add 21,000 b/d of new production in April

Also in this section
Opec and IEA bristle at Trump’s trade posturing
16 March 2018
The IEA and Opec say Trump’s trade plans are a threat to global growth
Five key takeaways from the big three oil market reports
15 March 2018
Demand and supply data still diverge, Venezuela’s increasingly critical to balances, and some macro alarm bells are starting to ring
China bets on a yuan-oil bonanza
13 March 2018
The country's long-delayed crude oil futures contract promises much, but doubts persist