“However, it should be noted, that any changes in future market conditions would have an immediate impact on our shale production projections,” Passos concluded.
Rystad: US Shale Production To Peak At 14.5 Million Bpd
US shale supply will peak at approximately 14.5 million barrels per day (bpd) around 2030, according to Rystad Energy.
In the past decade, crude oil coming from shale patches such as the Permian in the US has grown from a negligible contributor to an upstream behemoth, reshaping the industry and the oil market.
US Light Tight Oil (LTO) represented less than 1% of global oil supply just nine years ago. Today, US LTO represents close to 10% of total global oil supply, a percentage which is expected to continue its ascent going forward. But by how much? That is the million-dollar question.
Different agencies and knowledge houses have responded to this with varying degrees of positivity and skepticism. Rystad Energy aims to shed some light on this uncertainty and provide its answer.
“Under our base-case price scenario*, US LTO supply should reach its peak at approximately 14.5 million barrels per day (bpd) around 2030,” says Sonia Mladá Passos, a product manager on Rystad Energy’s Shale Upstream Analytics team.
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THE FUTURE OF SHALE
