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Shale-Oil Output Forecasts May Fall Victim to Driller Discipline

  • Energy bank Tudor, Pickering preparing to dial back outlook
  • Explorers ‘walk the walk’ on promises to restrain spending

Shale drillers are showing so much financial self-discipline that next year’s oil-production forecasts may be in peril, according to Tudor, Pickering, Holt & Co.

The boutique energy bank warned it probably will reduce its 2022 outlook for onshore U.S. crude-output growth given the signals emanating from executives at publicly traded shale companies. After listening in to second-quarter earnings conference calls in recent weeks, Tudor is no longer confident the companies will lift production by 350,000 barrels a day next year.