Oil chiefs warn of end to US shale boom

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The story "Oil chiefs warn of end to US shale boom" was covered 15 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 15h ago

Oil chiefs warn of end to US shale boom - Financial Times

Quick Summary:

We’ll see more capital pullback as the quarters progress,” said Doug Lawlor, chief executive of Continental Resources, one of the country’s biggest privately held energy companies.

Shale producers need an oil price of $65 a barrel to break even, according to the quarterly energy survey by the Federal Reserve Bank of Dallas.

A fall in production would end a stunning run in US energy, where the shale revolution delivered ever greater volumes of cheap oil and gas to power the economy, a boost to GDP and labour markets, and an export surge that improved the country’s trade balance.