Earlier this summer, it seemed that U.S. shale oil growth was beginning to slow. But then production growth picked back up headed into the fall, and is presently at 12.6 million barrels per day (BPD) – equal to its all-time high. But a new market outlook from data provider IHS Markit projects that shale oil growth will slow in 2020, and then flatten in 2021. He also expects growth to slow next year, which should help boost oil prices. Papa lowered his 2020 shale growth forecast to 400,000 BPD from the 700,000 BPD estimate he made in early September.

Source: Forbes November 10, 2019 23:00 UTC