U.S. Oil Production Climbs Despite Cautious Drillers ...Middle East

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U.S. Oil Production Climbs Despite Cautious Drillers
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A couple of recent forecasts have projected sizeable increases in U.S. shale oil production this year, sparking optimism for an industry that has for the last two years maintained a culture of discipline and caution. According to the industry itself, caution will prevail. Marathon Oil has no plans to boost production this year, Petroleum Economist reported last month, despite booming oil prices. Pioneer Natural Resources also made it clear it was not going to change its strategy because of prices, with its chief executive Scott Sheffield saying…

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