SMM: on Sept. 12, U. S. oil production will grow at about half the rate of 2018 over the next two years as shale prospectors face demands to return more cash to shareholders, according to Rystad Energy.
The forecast is the latest sign of a slowdown in shale oil production after a three-year surge. The flood of shale oil has weighed on global oil prices. Shale oil production will rise from about 12.4 million barrels a day to 14 million barrels a day by the end of 2020, down from 2 million barrels a day in the United States last year, Rystad said at a meeting in Houston on Wednesday.
"It is clear that the growth rate is slowing," said Artem Abramov, head of shale oil research at Rystad. "https://news.metal.com