U.S. Total Shale Regions Oil Production For Dec Seen Down About 1,200 BPD At 9.652M BPD (vs 4,100 BPD Fall In Nov)
Portfolio Pulse from Benzinga Newsdesk
U.S. total shale regions oil production for December is projected to decrease by approximately 1,200 barrels per day (BPD), reaching 9.652 million BPD. This represents a smaller decline compared to the 4,100 BPD fall in November, as reported by Reuters.
November 13, 2023 | 7:11 pm
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NEUTRAL IMPACT
The United States Oil Fund, LP (USO) may experience short-term price fluctuations due to the reported decrease in U.S. shale oil production for December.
The United States Oil Fund, LP (USO) tracks the price of oil and could be impacted by changes in U.S. oil production. However, the reported decrease is relatively small and follows a larger decline in the previous month, suggesting a potential stabilization in production that might not significantly sway prices in the short term. Therefore, the impact score is neutral (0), with moderate relevance and importance due to the direct relationship between oil production and USO's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70