Insight
Lower 48 long-term oil and gas supply outlook: H2 2024
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Report summary
Lower 48 oil production growth is decelerating as operators focus on capital discipline, shareholder returns, and consolidation reduces the role of high-growth private players. In contrast, gas production is projected to expand by nearly 30% over the next decade, driven by rising LNG exports and increased power demand from AI data centers. Although inventory exhaustion poses a long-term challenge, most subplays are expected to remain viable through the mid-2030s.
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