High Oil Prices Aren’t Enough To Tempt Shale Producers

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High Oil Prices Aren't Enough To Tempt Shale Producers

U.S. shale production is back in growth mode, but inflation and supply chain bottlenecks could hobble the growth trajectory this year despite the tempting economics of $100 oil.   The United States is set to post an annual record of 12.6 million barrels per day (bpd) of crude oil production in 2023, while this year’s average is forecast at 12 million bpd, up by 760,000 bpd from last year, according to EIA’s latest estimates. Yet, cost inflation, labor and equipment shortages, and continued restraint in spending and drilling from the biggest...

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