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U.S. Shale Is Back to Booming

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Citi's Morse Sees Oversupplied Oil Market

Output in the U.S. shale patch is “re-booming” this year, with research and data analysis firm Lium LLC forecasting production will surge by more than 1 million barrels a day.

That’s the most bullish industry forecast yet. By comparison, the Energy Information Administration says the U.S. will end the year producing about 630,000 barrels a day more than January levels; ConocoPhillips predicts output will grow by as much as 900,000 barrels a day in 2022.