US Shale Drillers Score a Cashflow Bonanza Thanks to OPEC+ Cut

OPEC’s surprise decision to slash oil production stands to enrich an unexpected cohort: US shale drillers.

The shock announcement sent US oil prices up by as much as $6 a barrel, signaling a new round of windfall profits for the shale industry that once was OPEC’s fiercest foe. At the same time, the development bodes ill for consumers already squeezed by rampant inflation and facing the threat of surging gasoline prices as the summer driving season approaches.

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