BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

Global spare capacity: Should idled US shale oil wells count?

Natural Gas (European) | Oil | Crude Oil | Metals | Steel

Market Movers Europe, May 20–24: Iran tensions affect oil; Turkish steel gets a boost

Natural Gas | Oil

Platts Scenario Planning Service

Oil | Crude Oil | Oil Risk | Petrochemicals | Aromatics | Olefins | Petrochemicals Risk | Polymers | Solvents & Intermediates

S&P Global Platts University London

Listen: Global spare capacity: Should idled US shale oil wells count?

It's Brian Scheid v. Herman Wang on Platts Capitol Crude Court this week, as the co-hosts duel over the notion of idled US shale oil wells contributing to global spare capacity. Brian argues that drilled and uncompleted wells and laid-down rigs represent a de facto source of spare capacity, since shale production is nimble and wells can come back online in a hurry. But Herman says there's no way idled shale oil wells fit the technical definition of spare capacity, since they're controlled by independent companies operating in a market environment, not a government entity managing supply.

With OPEC abandoning its traditional role of balancing the market and US shale producers now acting as swing producers, how does that factor in to spare capacity and what are the implications for price forecasts going forward? Platts editor Keiron Greenhalgh wields the gavel, and after listening to their arguments, will announce his decision.

Check back every Monday for the latest analysis of US oil policy news from leading Platts editors covering the Capitol. E-mail the editors at brian.scheid@platts.com and herman.wang@platts.com.


We welcome any feedback or suggestions for topics. Contact us at webeditor@platts.com.