Sign up for our newsletter

Below is a report that DML News gives a 4 OUT OF 4 STARS trustworthiness rating. We base this rating on the following criteria:

  • Provides named sources
  • Reported by more than one notable outlet
  • Does not insert opinion or leading words
  • Includes supporting video, direct statements, or photos

Click here to read more about our rating system.

As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by WashingtonPost:

America’s second shale boom is running out of steam. But don’t panic just yet, a third one may be coming over the horizon.

The U.S. Energy Information Administration published its latest short-term energy outlook last week and has cut its forecast of oil production by the end of 2020 for the fourth straight month. It now expects American output to rise by just 370,000 barrels a day over the course of next year. That will be the slowest growth in four years and is yet another indicator that the latest period of rapid shale expansion is faltering.

The article goes on to state the following:

The number of rigs drilling for oil in the U.S. has fallen in each of the last 10 months, dropping by a total of 20% since November. And productivity gains are waning. Drilling in the Permian, the most prolific of the shale basins, fell by 11% in the nine months to August, according to the EIA.

To get more information about this article, please visit WashingtonPost. To weigh in, leave a comment below.

Sign up for our newsletter

Click here to join the comments

Previous articleVIDEO: Trump accuses Obama of ‘hiding’: He ‘knows all about’ the Bidens
Next articleKurdish politician and 10 others killed by ‘Turkish-backed militia’ in Syria, SDF claims