Shale largest area of oil market uncertainty $65/b WTI needed to lift sentiment Majors’ shale expansion brings no quick fix London — The US shale boom is stalling as productivity declines and investors and lenders shun the sector, while the expansion of major international oil companies into shale will take time to have an impact, Paul Horsnell, global head of commodities at Standard Chartered bank, said Tuesday. Speaking at Platts’ Essential Commodities Exchange conference, Horsnell said US shale represented the largest area of uncertainty in oil market forecasting, with estimates of total US oil production growth next year ranging among forecasting organizations from 400,000 b/d to over 1.5 million b/d. Horsnell said he detected a change of mood, not only among shale investors, but in the industry itself, with formerly bullish executives such as Pioneer Natural Resources President Scott Sheffield sounding uncharacteristically downbeat. Horsnell estimated the sector would […]