US tight oil’s uncharacteristic response to rising prices

Many doubted tight oil’s ability to show restraint. But after a hard reset in 2020, the sector has resisted the temptation to grow, even with the allure of $70 oil. A look back at history shows us how unique this moment is – never before has tight oil investment been so low with prices so high. In this Insight, we explore the macro trends that are shaping US tight oil in 2021. • Why isn’t tight oil investment increasing with higher prices? • When can we expect to see a production response? • How quickly are rigs coming back and which operators are driving the recovery?