Oil chiefs warn of end to US shale boom

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US oil companies are cutting costs and drilling drilling rigs, because Donald Trump increases tariff costs and reduces crude prices, inspiring the executives to warn the executives that a decade long shell boom is coming to an end.

OPEC+ decision to surprise from the cartel Further Oil Pump The US oil has made this dark more complicated throughout the patch, a new price has spread the fear of war and analysts have requested to predict output.

Clay Gasper, Chief Executive Officer in Oklahoma City, told investors this month, “We are on high warning at the moment.” “As we move into a more sad environment, everything is on the table.”

According to S&P Global Commodity Insight, the Oil Output will reduce 5.5 percent of the next year to 1.5 million barrels a day. Shell Drivers who make the United States the largest producer of the world’s largest producer in the world, fearing Oversel and Trump’s trade war.

It will identify the first annual decrease in a decade, excluding the 2020 epidemic when the demand for collapses transmitted oil prices below zero and trigger extensive bankruptcy in states like Texas and North Dakota.

US oil prices have dropped again on Friday, the week ended $ 61.53 barrel, which has dropped by about 23 percent from its high point this year. According to the Federal Reserve Bank’s quarterly power survey of Dallas, shell producers even need $ 65 worth of barrels to break.

Herbert Vogel, CEO of SM Energy at Fort Worth Super Dog Conference, said, “Now the watchward is, ‘Hang in there’.

The fall of production will finish a stunning run in the United States, where the Shell Revolution provided a large amount of cheap oil and gas for electricity in the economy, encouraging GDP and labor market and an export enthusiasm that improves trade balance of the country.

Shell Output has also increased the dependence of foreign suppliers like Saudi Arabia and other OPEC Cartel members to target exporters like Iran, Russia and Venezuela to target exporters like Iran, Russia and Venezuela.

Trump has promised to “free” more drilling and production to our “power domination”. However, the production, which hit the record height under Joe Biden, his predecessor, could reduce even if the prices were submerged.

The shell driver told Pionea’s natural resource former Scott Sheffield Financial Times that if Crude dropped to $ 50 per barrel, US production would probably lose 300,000 barrels a day – some smaller OPEC members are higher than the total output.

He suggested that Riyad’s decision to pump more oil in recent months would be a direct threat to the global market of US producers.

Sheffield said, “Saudi market shares are trying to get back and they will probably get it in the next five years.”

According to the Oilfield Services Company Bakar Hughes, Anushish US Oil Rig Count, a barometer of drilling activities, was 553 last week and was less than a year ago.

Some big producers are already raining jobs. Chevron and BP have announced the reduction of 5.5 jobs worldwide, although employment in the United States is still relatively stable this year, the US Labor Statistics Bureau said.

According to an Energy Research Farm Firm Envoras, the top 20 US Shell producers, excluding Excenmobil and Chevron, have reduced their capital expenditure budget by about $ 5 billion or 5 percent.

“As an operator, we cannot control the macro, but we can control how we react,” the first quarter has cut the rig count by the two men, the Chief Executive Vicky Holub of Ocadental Petroleum.

If the prices hit $ 50 per barrel will reduce many companies more – Trump officials’ prices It has been indicated that inflation will help control.

“In this environment, we drop the rigs and buy back stock,” Diamondback Energy Chair and Chief Executive Officer Travis Stees said, which recently Careful Investors are probably at the top of US oil production. “Every single conversation of mine is that the price of this oil will not work.”

However, the President’s other policies are also spreading the sector. The tariffs have increased the price of steel and aluminum – important input in oil patch. Casing prices, metal wales were used in line and the biggest expense for drilling a well, only increased by only 10 percent in the last quarter.

“Economy will be challenged. We will see more capital pulaback as quarters,” one of the largest personally occupied power companies in the country said Dog Loller, CEO of Continental Resources.

Wall Street will forcefully reduce the hatches by paying dividends to investors and protecting the debt cash flow.

“You need to concentrate on the dividend, they are sacrosank in this environment,” said Jim Rogers, partners in Houston’s Boutique Investment Firm Petri Partners.