Daily Energy Report
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Daily Energy Report
US shale production, US electricity prices, OPEC+ output cuts, US LNG exports, Trump’s drilling message, Russia oil/gas revenues up, India cuts oil tax, and more.
Chart of the Day: Growth in US Tight Oil Production Has been Virtually Flat in Recent Months
Summary
Figure (1) shows the trend in US crude oil production from tight plays. Production is slightly above 8.5 mb/d. Most of the production comes from the Permian. Total production has been virtually flat this year. The decline in January was related to a freeze in Texas and North Dakota.
People are asking: Has shale oil production peaked? Is it a terminal peak? Will it decline? Will we see and increase in production if former President Trump wins the White House in November? Answers below.