Russia Predicts The Death Of U.S. Shale

U.S. shale production growth is slowing down, and America’s shale output will likely peak in the next few years, Russia’s Energy Minister Alexander Novak said on Tuesday. We see that there is slowing activity in U.S. shale, and despite the fact that production continues to grow, growth is weaker than in previous years, Novak told reporters in Sochi today. The number of drilling rigs in the United States dropped by 160 in a year, Novak noted. The U.S. oil rig count continued to drop in the latest reporting week, according to Baker Hughes…