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SZO - U.S. Shale Well Productivity Turns Negative Y-O-Y
DB Crude Oil Short ETN
Welcome to the uh oh edition of Oil Markets Daily!
Last month, we wrote an article titled, "Shale Oil Well Productivity Continues To Stagnate." So it's no surprise that this month's DPR shows US shale oil well productivity turning negative y-o-y for the first time since October 2016.
Source: EIA, HFI Research
US shale also completed the 2nd highest well completion since 2014 in August, and yet, production gains are close to flat.
Source: EIA, HFI Research
Going forward, we have said that without a productivity increase, the only chance US shale oil