tariffs hit U.S. drilling plans per Dallas Fed survey

WABAC

Cap baby cap. https://finance.yahoo.com/news/us-shale-slow-drilling-trump-165615979.html

The headline on the report from Bloomberg mentions shale, but the story seems to cover the entire domestic industry. So draw your own conclusions. It should also be noted that lower oil prices are playing their part.

Almost half of oil executives said they expect to drill fewer wells in 2025 than planned at the start of the year, according to second-quarter survey results released Wednesday. For “large” exploration and production firms — producing 10,000 barrels per day or more — 42% said they expected a significant decrease in the number of wells drilled. Most firms said that tariffs have increased the cost of drilling and completing a new well by 4.01% to 6%.

catch22

And I saw a verbal report yesterday (can't recall where) that regardless of what the government wants; oil companies, like any business are not going to drill with 'a no profit' scenario. 'He' thinks production should increase without regard to the market prices. A FOOL'S ERRAND.

DrVenture

It seems that the big picture issue is that the oil industry is projecting that tariffs lead to a slower global economy, which leads to lower demand for its products. And higher drilling costs. Possibly, a canary in the coal mine.