Non-Opec-Plus: US Shale Taps All Wells With Oil Over $80

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US crude oil production pulled off the expected comeback in October, and then some. For all liquids, US output has been revised up by 417,000 barrels per day in the fourth quarter. Producers are going flat out, capitalizing on the $80-plus price to be had in the prompt crude market. They are bringing on drilled but uncompleted wells in large numbers, and as a result fourth-quarter crude production has been revised up by 260,000 b/d. Fourth-quarter output of natural gas liquids (NGLs) has been restated 157,000 b/d higher.

Oil Supply, Crude Oil
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