ConocoPhillips CEO: U.S. Shale Output to Level Off at $60 Oil

ConocoPhillips CEO: U.S. Shale Output to Level Off at $60 Oil

U.S. shale production is likely to plateau or decline if oil prices remain below $65 per barrel, industry leaders warned at the Qatar Economic Forum.

Analysis-With output hikes, OPEC+ again targets US shale oil - Regional Media News

By Olesya Astakhova, Dmitry Zhdannikov and Alex Lawler MOSCOW/LONDON (Reuters) – Behind OPEC+’s plan to ramp up oil output and punish over-producing allies, group leaders Saudi Arabia and Russia are pushing a second objective: taking on U.S. shale production to win back market share from the United States. OPEC’s last price war on U.S. producers 10 years ago ended in failure, as breakthroughs in technology and drilling allowed U.S. shale compani…

US Shale to Plateau if Oil Stays in Current Range, ConocoPhillips CEO Says - Energy News, Top Headlines, Commentaries, Features & Events

U.S. shale oil output will flatten out if prices remain where they are now and will start to decline with prices in the $50s per barrel, the CEO of ConocoPhillips said on Tuesday in the latest prediction that oil’s slump could curb U.S. supply. The comments from Conoco CEO Ryan Lance come as forecasters including ...