If OPEC and Russia don’t decide on deeper cuts in oil production for 2020, it could cause oil prices to drop. But the production outlook for North American shale will remain robust in coming years, according to Norwegian energy research firm Rystad Energy. “In spite of the decline in spending and activity levels, the North American shale supply is not following the downward trend,” said Sonia Mladá Passos, a product manager of Rystad Energy’s Shale Upstream Analysis team. Using a base case price scenario which assumes a WTI price of $55/barrel in 2019; $54/barrel in2020; $54/barrel in 2021 and $57/barrel in 2022, Rystad expects North American light tight oil (NA LTO) supply to reach 11.6 million barrels per day by 2022. This indicates an annual growth rate of 10 percent from 2019-2022. In a price scenario with WTI remaining flat at $45 per barrel, NA LTO supply would level […]