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US Shale Oil Output to Grow for Years Before Peaking, HSBC Says
US shale drillers will continue to raise oil production for years before the juggernaut stalls around 2028, dashing OPEC+ hopes for a quicker fall-off in American output growth, according to HSBC Holdings Plc. Improvements in drilling and fracking techniques amid a wave of corporate takeovers will drive the expansion and more than offset recent reductions in rig deployments, analysts at the the London-based bank wrote in a note titled ‘Underestimate US Shale at Your Peril.’ “Some expect US shale to peak soon, and OPEC+ hopes this will be the case as it would allow the group to finally unwind its supply cuts,” ... (full story)