, Columnist
America’s Great Shale Oil Boom Is Nearly Over
But another one is probably on the way, as the industry reaches adulthood.
It’s a shame about shale.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
America’s second shale boom is running out of steam. But don’t panic just yet, a third one may be coming over the horizon.
The U.S. Energy Information Administration published its latest short-term energy outlook last week and has cut its forecast of oil production by the end of 2020 for the fourth straight month. It now expects American output to rise by just 370,000 barrels a day over the course of next year. That will be the slowest growth in four years and is yet another indicator that the latest period of rapid shale expansion is faltering.