We know US oil drillers can react quicker these days to rising prices and put new production online. But for the first time, a study has quantified US shale drillers' price responsiveness.
Richard Newell, the study's lead author and former chief of the Energy Information Administration, spoke with senior oil editors Meghan Gordon and Brian Scheid about what this new speed means for price volatility, if it sets up the US to become a swing producer someday and whether we still need strategic oil reserves. Newell is president of Resources for the Future.
We also spoke with Lynn Helms, North Dakota's top oil regulator, about how drillers are accelerating projects in the Bakken.
Bakken oil production to climb, but Permian, OPEC pose risk
Interview: US oil reacts quicker to price, but remains far from swing producer
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