The merger mania in the U.S. shale industry has set the stage for steadier oil prices, analysts say. As producers become bigger, they focus on shareholder returns and wouldn't be inclined to respond to every price spike with a major boost in drilling that ultimately floods the market with oil and depresses prices.
This relentless drilling for higher production has been the shale industry's modus operandi for a decade before Covid and the demand and market crash. Until 2020, many smaller producers sought to maximize output and price realizations…U.S. Shale Mergers Could Bring Steadier Oil Prices
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