U.S. Shale Output Nearing Peak as Oil Prices Stagnate

The decline in oil prices and the prevailing uncertainty about the economy, trade, and supply chains are accelerating the peak in U.S. oil production despite President Donald Trump’s ‘drill, baby, drill’ slogan.   With the U.S. benchmark WTI crude prices at $60 per barrel, it’s mostly “hold, baby, hold” in the American shale patch, where output in the major basins except the Permian has already started to level off or drop.  The U.S.-China 90-day tariff pause and the start of trade talks did little…