US shale investments poised to surge 50% this year
Report finds dramatic upswing despite low oil prices
The International Energy Agency forecasts in a report released Tuesday that investment in shale oil will jump 53% in 2017, reports MarketWatch.
“The largest planned increase in upstream spending in 2017 in percentage terms is in the United States, in particular in shale assets that have benefited from a reduction in breakeven prices as a result of a combination of improvement in costs and efficiency gains,” the IEA said.
The increase would see global upstream investments rise 6%, after a 44% drop over the past three years.