The U.S. shale industry won’t step in to fill the gap left by an OPEC+ crude oil production cut, energy executives told Reuters on Tuesday. OPEC+ is set to review on Wednesday its production plans for November—and the industry consensus is that OPEC+ could consider slashing its output by anywhere from 500,000 bpd to more than a million barrels per day. While some in the industry have pointed out that cutting its targets isn’t the same as cutting actual production, the fact that the group’s most prolific oil producer, Saudi Arabia, is producing to its current target means that any production cut would at a minimum result in a production decrease from The Kingdom. And energy executives are saying that OPEC+ remains in control of the market, and that U.S. shale can’t step in to compensate for any production declines. “Nothing is going to ramp up fast,” Andy Hendricks, […]