Rising Costs Will Continue To Erode U.S. Shale Profits ...Middle East

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Rising Costs Will Continue To Erode U.S. Shale Profits
Despite record earnings for 2022, the biggest independent U.S. shale producers continue to flag cost inflation as a drag on profitability for 2023. This year’s capital budgets will be higher than in 2022 but the expenditures will not go towards a material increase in oil production as companies continue to prioritize returns to shareholders with the record cash flows and profits generated last year.    But inflation hasn’t gone away and will not go away for at least a few more quarters, according to the top executives of the…

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