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bullrider_21
commented on a stock11/25/2022 11:27
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$RH PetroGas(T13.SG)$$Rex Intl(5WH.SG)$$Dyna-Mac(NO4.SG)$$Crude Oil Fu...

$RH PetroGas(T13.SG)$$Rex Intl(5WH.SG)$$Dyna-Mac(NO4.SG)$$Crude Oil Futures Main(MAR3)(CLmain.US)$
The U.S. can't count on shale oil to increase oil production substantially any more. The days of explosive growth in U.S. shale oil production are over. American oil production is rising, but at a much slower pace than it did before the 2020 crash, and at lower rates than expected a few months ago.
The new priorities of the shale patch – capital discipline and a focus on returns to shareholders and debt repayments – have coupled with supply chain constraints and cost inflation to drag down U.S. oil production growth.
The Biden Administration's mixed signals to the American oil and gas industry, with frequent blaming of the sector for high gasoline prices and, most recently, a threat of more taxes, are not motivating U.S. producers, either. Many are reluctant to commit to spending more on drilling when there isn't any medium-to-long-term vision of how the U.S. oil and gas resources could be used to boost America's energy security and help Western allies who depend on imports.
https://sg.finance.yahoo.com/news/u-shale-boom-officially-over-010000352.html
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