Welcome to the new era of moderation for shale producers. IHS Markit predicts that growth in U.S. oil production is heading for a “major slowdown,” falling from 440,000 barrels per day (bpd) in 2020 to “essentially flattening out” the following year. In a new outlook for oil market fundamentals for 2019 to 2021, IHS Markit reported Wednesday that shale producers – who have driven rapid growth in domestic output in recent years – are placing more emphasis on capital discipline and shareholder returns amid a weaker price environment. The 440,000 bpd in annual growth projected for 2020 itself represents a dramatic reduction from last year’s figure. “Going from nearly 2 million barrels per day annual growth in 2018, an all-time global record, to essentially no growth by 2021 makes it pretty clear that this is a new era of moderation for shale producers,” Raoul LeBlanc, IHS Markit’s vice president […]