Will Surging U.S. Shale Kill Off The Oil Rally?

The U.S. shale industry is bringing enormous volumes of new oil supply online, breaking records each month. The U.S. could top 10 million barrels per day (mb/d) by February, and reach a staggering 11 mb/d by the end of next year. The EIA released the latest version of its Short-Term Energy Outlook (STEO), in which the agency dramatically revised up its expectations for U.S. oil output. Previously, the EIA thought the U.S. would only surpass the 10 mb/d threshold at some point in mid-2018; now they see it happening in February. The larger production…

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