1. Deep capex cuts for shale- A group of 33 U.S. shale companies cut capex to just $5.8 billion combined in the third quarter, according to a new report. - That was down from $13.9 billion for the same period a year earlier, a 58% decline in spending - The cut in spending allowed the group to post $2.
6 billion in free cash flow for the third quarter, the best collective result ever. - But the decent result may prove temporary. “[I]nvestors will likely see little reason to cheer in last quarter’s results. Shale wells quickly decline…OPEC+ Stabilizes Oil Markets
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