Oil & Gas Producers are Cutting Back, But by How Much?
Shale drillers are cutting billions of dollars in spending, raising questions about US oil output PUBLISHED MON, MAR 11 2019 • 8:14 AM EDT | UPDATED MON, MAR 11 2019 • 11:17 AM EDT Tom DiChristopher @TDICHRISTOPHER KEY POINTS Independent shale oil drillers are cutting spending, but U.S. oil output is still expected to surge this year.Smaller publicly traded drillers are throttling back capital expenditures, while their bigger rivals are making smaller cuts on a percentage basis. Private drillers increased output in the second half of last year and could do the same again this year, Barclays warns. Robert Nickelsberg | Getty Images, reposted by Scott Shields Katy, Scott Shields Houston. The shale drillers behind booming U.S. oil and natural gas output have survived a bevy of challenges in recent years, from a historic oil price downturn to an effort by OPEC to wash them out of the market with a flood of cheap crude. Now, with U.S. output at all