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US EV sales double, oil rebounds, solar shines and carbon capture booms: It s energy in 2023 with Wood MacKenzie s annual Top 10

U S shale firms hesitate to pump - or hedge - more, despite oil high prices

Article content NEW YORK OPEC’s sudden disarray would seem to be an opportunity for U.S. shale producers to lock in profits, with oil prices near multi-year-highs, but sources at those companies say they are not taking chances with the market’s volatility. Shale producers are famous for boosting output whenever oil prices surge. However, the shale industry has been notably restrained so far this year even as oil surged past $70 a barrel. They have maintained a lower level of production after vowing to investors that they would hold the line on spending to boost returns. We apologize, but this video has failed to load.

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