U.S. Shale Has Finally Grown Up ...Middle East

Last year, U.S. unconventional oil production contributed 7.8 million barrels daily to global supply. This unconventional production—shale oil—had already turned the United States into a new swing producer and a challenger to OPEC. Now, this is changing. Before, U.S. shale producers spent their time working to see just how much oil they could pump out of the ground if they really put their minds to it. Costs did not matter. Neither did cash returns for investors. The big prize was always around the corner. The U.S. became the world’s…

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