IlluMyFi

Over the last two years, the U.S. has significantly boosted its oil and gas production, despite also developing its renewable energy capacity. Following the Russian invasion of Ukraine and subsequent sanctions on Russian energy, the world experienced energy shortages and many countries found their energy security to be under threat. This led many countries in North America, Europe, and other parts of the world to look for alternative energy supplies to ensure they had enough oil and gas to meet their needs. Despite having put restrictions on the…

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15.05.24 12:00

by oilprice.com

Consumers Sue U.S. Shale Alleging Collusion to Boost Oil Prices

U.S. shale producers have been preaching and practicing capital discipline since the price crash of 2020 and haven’t deviated from their pledge to focus on shareholder returns instead of oil production growth since then. Some of the biggest independent U.S. shale firms may have started to finally please investors with meaningful returns, but they have angered consumers. Some of these consumers of retail gasoline, diesel, and marine fuels allege that the ‘discipline’ in capital allocation has actually been a collusion to boost...