No rebound in sight for US shale
Domestic crude production will continue to be squeezed despite the modest oil price upturn and faces a long-term existential threat in the form of the Democratic manifesto
US shale curtailments are starting to ease on cautious optimism that the gradual exit from lockdowns globally will aid an oil price recovery. Independents including the likes of Devon Energy, EOG Resources, Parsley Energy and Continental Resources have all pledged to revive deferred volumes over the summer months with WTI hovering close to $40/bl. But hopes for a swift and painless shale recovery look unlikely to be realised. The Energy Information Administration (EIA) estimates that production from the Lower 48 states has dropped by 1.55mn bl/d since the start of 2020. Producers have scrambled to cut back guidance this year against a huge global supply overhang caused by the collapsed Ope
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
