U.S. shale oil industry peaked last year

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      Surveys of key forecasters suggest that the growth rate of the U.S. shale industry may have peaked last year as investors demanded financial returns after oil production increased, leading to a cooling of the shale industry.
Recent average forecasts from four energy research companies and the U.S. government show that shale oil production in the United States is about 1.3 million barrels per day this year, down from about 1.5 million barrels per day in 2018.
According to available data, the monthly output of American oil producers reached a record high of 12.16 million barrels per day in April, continuing the record-breaking performance of well design and drilling progress.
The slowdown in shale oil production growth may allow the Organization of Petroleum Exporting Countries (OPEC) and its allies to avoid further cuts at this week's meeting. OPEC + has reduced production by 1.2 million barrels per day since January to avoid oversupply of crude oil. But it also puts pressure on oil service companies that expect shale oil producers to increase drilling budgets.


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