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US tight oil: can it deliver strong growth?
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Report summary
Growth in US Lower 48 crude oil production is relentless Activity has surged in the last 18 months, supported by rising crude oil prices and continued increasing intensity and pace of completions. Strong rig additions through early-2018 are now translating into surging supply: annual average crude oil growth in 2018 is forecast at close to 1.3 million b/d. With the inclusion of NGLs, the US Lower 48 will add close to 6 million b/d to global supply by 2025. The key driver of growth remains the Permian, but a number of challenges will need to be overcome to realise full potential: infrastructure constraints, water costs, service sector cost inflation, to name but a few.
Table of contents
- For the Macro Oils Service H1 2018 long-term price outlook and full data set, please see here .
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