Outlook Live: Trouble brews for US shale
Global energy demand will recover as the pandemic recedes, but production in the Lower 48 may already have reached its apogee
US onshore shale may have already hit peak production and could struggle to ever match pre-pandemic growth levels, according to a panel of experts on a PE Live webcast late last week. “I think the expectation is that US onshore production will remain flat, perhaps grow slightly, and that is mainly a function of access to capital and what investors want,” says Bobby Tudor, chairman at US bank Tudor, Pickering, Holt & Co. Over the past year, the EIA recorded a 1.43mn bl/d plunge in Lower 48 oil production—at its worst sinking to 8mn bl/d—as the pandemic triggered demand destruction and sunk global commodity prices. Since the worst of the economic lockdown ended in May, US production has gr
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
