for Oil Production
OPEC+ might have to extend its cuts when the group meets next month, but the pain in the U.S. shale industry may make its long-term task easier.
Chesapeake Energy's financial woes suggest the shale revolution is running on fumes.
Slowing growth in both Persian Gulf economies and U.S. oil production gives OPEC+ plenty to think about when they discuss output cuts in early December.
Global supply outages stand at exceptionally high levels—even as Brent struggles to stay above $60 per barrel.
Rising U.S. production has helped oil markets shrug off the Abqaiq attack - but the days of booming domestic output may be coming to an end.
Taken together, the long run of explosive U.S. shale growth is likely coming to an end.
The immediate impact of Abqaiq may have been minor, but the long-term lessons from this incident are bound to become more clear with time.
After the Abqaiq attacks, some analysts believe the market is overlooking rising geopolitical risk.
The oil market’s vulnerability and dependence not just on a single country, but on a single facility, was laid bare on September 14.
OPEC has few choices at its disposal to manage the swelling oil market surplus, most of which are unpalatable.