US Shale Output To Trend Up But Growth Limited

Top US shale producers are raising output, but are lacking the activity to raise production significantly, according to Reuters.

• US producers are expected to raise production for the remainder of 2023, adding around 850k b/d, according to estimates.
• Executives at top shale producers say they have fine-tuned their production techniques to push volumes 2% higher in the next six months with little effort, according to Reuters.
• However, analysts are doubtful that gains in production can outpace falling rates in wells without significant boosts in drilling activity, with US drilling rigs at 659, the lowest level since March 2022.
• “We expect pretty moderate growth due to operator discipline and constraints on the oilfield service side,” said Chetan Sharma, a senior associate with energy technology firm Enverus.