US Shale Tag

The Organization of the Petroleum Exporting Countries (OPEC) has forecasted that world demand for its crude will decline next year as the US shale industry continues to pump more oil, threatening another surplus. Providing its first forecasts for next year in a monthly report, OPEC said...

Recent upward momentum in the US shale oil market is set to continue with production projected to rise for the fifth straight month, according to a forecast from the US Energy Information Administration (EIA). The EIA’s latest drilling productivity report has projected that production across the...

US President Donald Trump has devised a plan to sell off half of the nation’s strategic crude oil reserves in order to help balance the budget. The plan was outlined in the White House’s 2018 budget proposal, which proposes raising nearly US$16.6 billion by 2027 through...

Royal Dutch Shell (LSE:RDS) and Anadarko Petroleum Corp (NYSE:APC) are in discussions regarding the termination of a 10-year joint venture in the Permian Basin of Texas. The separation would split each firm’s properties in the oil-rich basin, allowing them to drill and develop new wells at...

ExxonMobil (NYSE:XOM) has announced it will commit US$20 billion of investments to the US Gulf Coast over a 10-year period. The world’s largest publicly traded oil company will strategically invest in new refineries, petrochemicals and other projects across the region. Chairman and chief executive Darren Woods told...