18 May 2024
OIL & MONEY: US shale production sustainable at USD 50/barrel
Publication date: 19 October 2016
Gas Strategies Group
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US shale production will likely remain flat as long as the price of crude remains around USD 50/barrel, panellists said this week at the New York Times’ Oil & Money conference in London.
With the price of Brent and West Texas Intermediate at that level, E&P players will look to target "short-cycle projects", Chevron president for Africa and Latin America E&P Ali Moshiri said. Any project not viable USD 30-45/barrel will be pushed into the future, he added.