Following a deadlock in OPEC+ negotiations at the July 2021 meeting, oil prices briefly rose above $75 per barrel at the prospect of the alliance keeping output stable from August onwards, with producers in theory honoring their commitment to the original deal until a new way forward is agreed. As global oil demand is set to grow significantly, such a development would lead to a production deficit and Rystad Energy examined whether or not US shale can rise to the occasion and fill the imminent supply gap.
During the busy summer season global demand…U.S. Shale Can’t Afford To Gamble On The OPEC+ Outcome
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