Earlier this month, the Energy Information Administration forecasted that oil production in the United States would grow by 590,000 bpd to a total of 12.44 million bpd. It also said, however, that next year, production growth will only amount to 190,000 bpd—a significant weakening from this year’s forecast.
Perhaps the EIA has heard multiplying warnings from the shale oil industry that producers are not prioritizing growth. Perhaps it has heard about their well productivity problems. Perhaps even the EIA has realized the shale revolution…Pioneer CEO: The Shale Boom Is Over
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