Following record levels in 2021, U.S. oil production is anticipated to drop in 2023, partly due to strategic changes among producers favoring returns to shareholders over operational expenditure.
- Aug 02, 2023, 4:00 PM CDT
In addition to strategic changes, the reduction in oil rig count has been attributed to private companies downsizing their rig fleets, contributing to an anticipated decrease in U.S. shale production.Despite record U.S. oil production last year, output this year is set to decline, with the oil rig count dropping over the last three months. The U.S.
Despite this positive trend, the growth of the U.S. shale industry is set to slow in August. It hit record highs in June and July, but shale oil production could in August due to lower output in the Permian Basin, according to a government report. This lower production level could contribute to a global deficit by the end of the year.
Belgique Dernières Nouvelles, Belgique Actualités
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