The Big OPEC+ Gamble Appears To Be Paying Off

U.S. oil firms focused exclusively on the shale patch are expected to only marginally increase their combined production this year compared to 2020, according to Bloomberg Intelligence data of listed companies—a sign that OPEC+ could be right, at least for now, that $70 oil would not unleash a massive production increase from the United States. According to Bloomberg Intelligence data, the largest listed U.S. shale firms who have no production outside America are set to raise their production from 6.5 million barrels per day (bpd) in 2020…