America’s surging shale oil production shows little signs of abating despite industrywide spending cuts, as explorers learn to do more with less.
Almost all the independent producers have reduced their budgets for 2019, but many still expect to deliver double-digit growth in production this year, fourth-quarter earnings reports show.
Growth is slowing but still strong: the US will add about 1.45 million barrels of oilNSE 2.18 % a day on average this year, down from 1.6 million in 2018, according to the Energy Information Administration.
