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AMERICAS OIL: Oil Majors Borrow Billions for Buybacks as Production Wanes

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

Oil Majors Borrow Billions for Buybacks as Production Wanes: oilprice.com

  • US drilling activity has dropped to near post-pandemic lows due to low oil prices and cost inflation, with the rig count falling for over two years.
  • Oil companies are prioritizing shareholder returns through dividends and buybacks, rather than investing in new drilling.
  • Structural changes in the US shale industry, including a focus on efficiency gains and consolidation, are making it difficult to rapidly increase production even with deregulation efforts.
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Oil Majors Borrow Billions for Buybacks as Production Wanes: oilprice.com

  • US drilling activity has dropped to near post-pandemic lows due to low oil prices and cost inflation, with the rig count falling for over two years.
  • Oil companies are prioritizing shareholder returns through dividends and buybacks, rather than investing in new drilling.
  • Structural changes in the US shale industry, including a focus on efficiency gains and consolidation, are making it difficult to rapidly increase production even with deregulation efforts.