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Don’t Expect US Shale to Quickly Fill the Gap Left by OPEC+ Cut

  • Shale can’t just turn on the spigot after years of discipline
  • US output growth is less than half of what it was before 2020
Bloomberg business news
OPEC+ Shocks Market With Million-Barrel Production Cut
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This time, US shale isn’t coming to the rescue.

Even though oil drillers are flush with cash after record profits last year, US producers are unlikely to accelerate oil growth enough to make up for OPEC+’s surprise cuts, analysts and executives said.