Shale Drillers in Permian Basin Face Up to the Prospect of Peak Output
A key data release may underline how the US oil industry is reining in production growth in response to lower prices.
An Akita Drilling Ltd. oil rig in Midland, Texas. The Permian Basin is North America’s most prolific shale patch.
Photographer: Justin Hamel/BloombergThis article is for subscribers only.
Welcome to our guide to the commodities markets powering the global economy. Today, reporter David Wethe discusses how the US oil industry is contending with a slowdown in production growth.
Are we close to peak shale production? In the weeks since OPEC+ members agreed to ramp up output, the mood in the US oil business has shifted rapidly.