Surviving boom and bust cycle affirmed shale viability: Exxon U.S. executives say they can grow output at $50 a barrel When the Organization of Petroleum Exporting Countries started its price war, the U.S. shale boom looked doomed. Two years and one OPEC policy u-turn later, executives at the annual Oil & Money conference in London painted an upbeat outlook for shale, with giants like Exxon Mobil Corp. and ConocoPhillips saying the industry hasn’t just survived the bust, but will continue to have a global influence. “We have confirmed the viability of a very large resource base in North America,” said Exxon Chief Executive Officer Rex Tillerson. “Never bet against the creativity and tenacity of this segment of our industry.” The consequences will reverberate through the energy industry and the world economy. A cohort of shale producers ready to boost output when prices rise could cap any recovery at about […]