For a second consecutive year, U.S. shale producers are finding themselves cutting capital spending for the following year, as investors continue to demand returns from the frenzied drilling over the past three years. The U.S. shale patch has disappointed investors with the lack of meaningful returns and now, squeezed between the scarce availability of capital from debt and equity markets and investors demanding more profits, many U.S. oil and gas firms are reducing capital expenditure plans for 2020. Producers are also cutting production targets and now admit that the fast-paced growth of the past two years will slow down to moderate growth over the next few years. U.S. oil production growth is already slowing down , and growth will continue to slow, as investor demands for discipline spending, weak oil prices, little room for productivity gains, and parent/child well issues have started to weigh heavily on growth rates. OPEC […]