Cracks in the US shale recovery?
Oil bulls shouldn't get too excited about those capex cuts yet
Halliburton's chairman Dave Lesar set oil markets on edge this week with remarks suggesting that the shale industry was "tapping the brakes" as crude prices persistently hover around $50 per barrel ($/b). To oil bulls and Opec ministers looking for cracks in the shale recovery, it was the first good news to come out of the tight oil patch in a long time. Subsequent announcements this week—from major shale operators Anadarko, Hess and Whiting Petroleum—that they are cutting their 2017 budgets provided more grist for the mill. Anadarko cut $300m from its budget (roughly 7%) while Hess trimmed $100m from its spending plans. Further news of budget cuts could come over the next couple of weeks as
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
