“…Rising US oil production frustrates OPEC⁺ cuts: Kemp”
February 6, 2024
“U.S. oil and gas drilling has slowed in response to the fall in prices over the last 18 months, but that has not yet translated into slower production, keeping prices under pressure.
Exploration and production firms have continued to increase output despite drilling fewer wells, by concentrating on the best sites, accelerating drilling times and boring longer horizontal sections for each well… In gas, where there is no equivalent of OPEC⁺, continued production growth has kept prices close to three-decade lows in real terms…”
https://www.nasdaq.com/articles/column-rising-us-oil-production-frustrates-opec-cuts:-kemp