Can OPEC+ Reclaim Market Share From U.S. Shale?

Can OPEC+ Reclaim Lost Market Share from Shale? - As OPEC+ members are expected to gather for their monthly ministerial meeting on June 1, another expedited production hike of 411,000 b/d is on the table, in line with Saudi Arabia’s stated intent to slash voluntary output cuts. - WTI is currently trading around $60 per barrel, which is lower than the $61-62 per barrel breakeven cost for a new well in the Permian basin, an almost exclusive source of US crude supply increments. - OPEC+ is seeking to regain market share lost to shale producers…