Shale Oil Drilling Growth Primed to Restart in 2026, Citi Says

Higher oil prices driven up by the conflict in the Middle East stand to push some of America’s biggest shale producers to start adding drilling rigs in the second half of this year and more than 100,000 barrels per day of increased output by 2027, according to Citigroup Inc.

When combined with an even more robust expansion from private operators and the existing growth plans from some oil majors, US shale could add about 815,000 barrels a day of crude to the global market through 2028, Scott Gruber, an analyst at Citi, wrote Friday in a note to investors.