US oil production growth slowed down as shale oil companies cut spending

According to IHS Markit, an economic analysis agency, US shale oil companies will control spending and focus on shareholder returns, which may lead to a significant decline in production. According to the report of oil market outlook 2019-2021 issued by IHS, the total oil production of the United States is expected to increase by 440000b / D in 2020, and then basically flat in 2021. With the decline of oil price and the deterioration of financing channels in capital market, enterprises are facing the call of investors to focus on capital return. "From a record annual growth rate of nearly 2 million barrels / day in 2018 to almost no growth in 2021, it is clear that shale oil producers are entering a new era of slowing production," said Raoul LeBlanc of ihsmarkit.