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US shale production to drop further next year

US SHALE production will decline by 3.1% this year but the worst is over for 2020 as the onshore benchmark West Texas Intermediate price stabilises at around US$40-$45 per barrel, but drilling and completion spend will drop by over 50% year-on-year.

US shale production to drop further next year

Consultancy Rystad Energy has calculated 2020's onshore production from the lower 48 will be around 7.5 million barrels of oil per day and will fall another 2-3% next year. D&C capex will be $45.8...

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