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Shale drillers need a miracle to keep production from falling ...United Arab Emirates
With West Texas Intermediate falling below $45 a barrel after the latest burst in coronavirus panic, US shale oil and gas producers are feeling growing heat. Except for the Permian, where production of both oil and gas is still growing, the US shale patch is retrenching. And the Permian may soon follow suit. In its latest Drilling Productivity Report, released earlier this month, the Energy Information Administration said oil production had declined across six of the seven major shale plays in the country, by some 21,000 bpd. In the Permian, however, production rose by 39,000 bpd, tipping the total into a net increase of 18,000 bpd. No
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