U.S. Total Shale Regions Oil Production For Sept Seen Down About 19,000 Barrels/Day At 9.415M Barrels/Day (vs 15,000 Barrels/Day Fall In Aug.)
Portfolio Pulse from Benzinga Newsdesk
The U.S. total shale regions oil production for September is expected to decrease by about 19,000 barrels/day to 9.415 million barrels/day. This is a larger decrease compared to the 15,000 barrels/day fall in August.
August 14, 2023 | 6:30 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The United States Oil Fund (USO) could be impacted by the expected decrease in U.S. shale oil production in September.
The United States Oil Fund (USO) is an exchange-traded fund (ETF) that aims to track the price of West Texas Intermediate (WTI) light, sweet crude oil. A decrease in U.S. shale oil production could lead to a decrease in the supply of oil, which could potentially increase the price of oil. This could impact the performance of USO.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100