BLOOMBERG.COM
Oil production in some of the riskiest, highest-cost regions of North America is still thriving, even as the worst slump in a generation takes a bite out of U.S. shale. Onshore U.S. output is poised to drop 22 percent from last year through 2017, according to the Energy Information Administration. However, new volumes coming on stream from developments envisioned years ago in Canada’s oil sands and the U.S. Gulf of Mexico are limiting North America’s total production decline.
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Oil production in some of the riskiest, highest-cost regions of North America is still thriving, even as the worst slump in a generation takes a bite out of U.S. shale. Onshore U.S. output is poised to drop 22 percent from last year through 2017, according to the Energy Information Administration. However, new volumes coming on stream from developments envisioned years ago in Canada’s oil sands and the U.S. Gulf of Mexico are limiting North America’s total production decline.
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