U.S. Shale-Oil Surge to Continue Amid Price Slump: IEA
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The U.S. shale boom does not appear to be slowing in response to the oil-price slump, with the country’s output of petroleum liquids rising above 12 million barrels a day for the first time, according to the International Energy Agency.
U.S. production of crude oil, condensate and natural gas liquids climbed to 12.2 million barrels a day last month, the Paris-based energy adviser said today in its monthly oil market report. That indicates many producers are able to continue pumping in the short term even after West Texas Intermediate, the regional benchmark, fell 12 percent last month, the IEA said.