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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (29123)	2/18/2022 9:33:19 PM
From: Les H	Respond to of 48697

hThe largest U.S. shale producers have not been tempted to drill aggressively by $90 oil, and they will not be tempted by $150 or even $200 oil to change their conservative production growth plans, executives at the biggest public shale firms said this week. The U.S. shale patch has been vowing capital discipline over the past two years, but the recent rally in oil prices—which are now 20 percent higher than they were on January 1, 2022—has started to pose questions for the market whether or when that discipline will break. Some private producers have boosted spending on more drilling, but the biggest listed independents are holding the line and vow to continue doing so in the medium term. "Whether it's $150 oil, $200 oil, or $100 oil, we're not going to change our growth plans," Pioneer Natural Resources' chief executive Scott Sheffield told Bloomberg Television in an interview. "If the president wants us to grow, I just don't think the industry can grow anyway," Sheffield added. ttps://oilprice.com/Energy/Energy-General/Not-Even-200-Oil-Will-Make-Shale-Giants-Drill-Aggressively.html Big Oil is betting on running out of oil in the shale formations driving out competition.