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2019-07-01 11:20:00

U.S. SHALE OIL PROBLEMS

U.S. SHALE OIL PROBLEMS

MEOG - US oil production is growing, with Rystad Energy estimating that the nation produced an average of 12.5mn barrels per day (bpd) in May 2019—an all-time high.

By December 2019, Rystad Energy forecasts that the US will produce a staggering 13.4mbpd, which would shatter its own record.

"Our US supply projections have been revised up yet again. US oil production is already higher than many in the market believe," said Bjørnar Tonhaugen, head of Oil Market Research…

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Tags: USA, SHALE, OIL, PRODUCTION
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