Last updateFri, 14 Aug 2020 6pm

End-User News

U.S. Shale Oil Output Uptick Not Likely to Last

“A reopening of some major economies locked down due to the coronavirus has lifted global oil prices and encouraged U.S. shale producers to return at least a third of the 2 million barrels per day (bpd) curtailed since April,” Reuters reports. “But that bump in output is unlikely to be sustained as shale wells lose up to half their initial output after the first year, and require constant drilling to maintain and increase production.”

According to Parsley Energy COO David Dell’Osso, “You shut down like this, reduce activity like this, and it is going to be felt for a while.”

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